Nifty Pharma was trading higher despite weak global market signals on Monday. The index, after a bearish start, reduces initial losses to turn a dismal start into substantial gains.
Gains on the index were limited due to strong selling pressure on heavyweights. Lupine Y Torrent Pharma. Alkem, Divis Labs led earnings while, Sun Pharma, Aurobindo Pharma and other scripts were under pressure.
During the first business operations, around 11:20 a.m. M., The Nifty Pharma was trading at 14,700.30 up 65.25 points or 0.45%, hitting a high of 14,707 and a low of 14,549.85 during intraday trading on Monday.
Alkem Laboratory It was the top earning by almost 2% to Rs3,416 a piece on the first bids.
Divis Lab and Biocon doing well by increasing more than 0.5%, while Dr. Reddy, Cadila Y Cipla they were trading slightly higher to support the index.
On the downside, Aurobindo Pharma was the main laggard, falling marginally.
Heavyweight stocks like Lupine (-0.08%), Torrent Pharma (-0.20%), Sun Pharma (0.20%) dragged the sector down.
Among the shares listed on Nifty Pharma, Torrent Pharma and Sun Pharma are the latest to announce their first quarter results scheduled for July 27-30.
According to the Ministry of Health and Family Welfare, India reports 38,164 new cases and 499 deaths in the last 24 hours. The vaccination campaign continues in full swing until 40.64cr.
According to the latest report, current vaccines are effective against the Delta variant according to studies conducted by ICMR on the subject.
