Updated on December 19, 2023 at 15:22 IST
The rise in stocks was seen after the central government's advisory to states in view of a rise in COVID-19 sub-variant JN.1 infections.
Nifty Pharma rose as much as 0.62 per cent to hit an intraday high of 16,433.80 after the recent surge in daily COVID-19 cases. The daily active number of COVID cases increased to 1,828, according to the date published by the Ministry of Health.
Recently, Nifty Pharma shares have risen over 30 per cent year-to-date (YTD), outperforming the benchmark indices, which managed to rise nearly 17 per cent during the same period.
At the end of November, Nifty Pharma hit an all-time high of 15,950.80, while companies like GlaxoSmithKline Pharmaceuticals and Aurobindo Pharma recorded a 52-week high.
The top gainers on Tuesday under Nifty Pharma are Zydus Life, Torrent Pharma, Lupine and Aurobindo Pharma, which posted strong financial results in the quarter ended September.
In the quarter ended September this year, Zydus Life reported a 9.1 per cent year-on-year rise in operating income to Rs 4,369 crore from Rs 4,006 crore in the corresponding period last year.
Torrent Pharmaceuticals in the second quarter of this year recorded a 16 per cent increase in revenue from Rs 2,291 crore to Rs 2,660 crore in the same period last year.
At 2:59 pm, Nifty Pharma rose 0.40 per cent to 16,407.80 level.
