Nifty Pharma moved cautiously into bull markets on Thursday. Healthcare and IT were the best performing sectors during June and the pharmaceutical sector continued to increase its earnings in July.
The index gained more than 0.55% with Torrent Pharma, Alkem Laboratory, Y Sun Pharma top emerging beneficiaries as the sector performed better. Cipla continued under selling pressure.
Around 2.05 p.m. M., Nifty Pharma was trading at 14,559.00 up 79.80 points or 0.55%, touching a high of 14,562.10 and a low of 14,457.65 during intraday trading on Thursday.
BSE Sensex was trading at 52,771.59 to 573.08 points or 1.10% and the Nifty50 at 801.85 was up 169.75 points or 1.09%.
Torrent Pharma raised the yield by advancing 1.64% to Rs3,010.05 per piece. Alkem Lab also increased 1.5% to Rs3,446.55 per piece. Sun Pharma's heavyweight topped 1.1% at Rs 684.00 a piece.
Divis Lab (up 0.73%), DR Reddy's (up 0.57%), Auro Pharma (up 0.42%) and Lupine (up 0.2%) were also higher.
Cipla lost 0.6% to Rs949.50 a piece to emerge as the biggest laggard and continue under selling pressure like Tuesday. Biocon was also under pressure.
Cadila was also trading slightly lower. Zydus Cadila received tentative approval from the USFDA for ibrutinib tablets on Wednesday.
