Nifty Pharma tops 180 pts ahead of Sun Pharma Q1 earnings; Alkem, Cadila, Dr Reddy's in the fast lane

All stocks listed on Nifty Pharma were performing in green.

Jul 30, 2021 12:07 IST India Infoline News Service

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Despite the steep rise in Covid-19 active cases in some states of India, investors were upbeat on the pharmaceutical sector on exchanges. June 2021 quarterly earnings and vaccination drive continues to list sentiments in pharma stocks. The Nifty Pharma reclaimed over 14,100-level today. Sun Pharma stock is in focus ahead of its Q1 earnings later in the day.

At around 12.22 PM, Nifty Pharma was trading at 14,102.05 up by 181.70 points or 1.31%. The index has touched an intraday high of 14,136.70.

Alkem Lab was the top gainer soaring 3.2% followed by Cadila Healthcare climbing more than 2%. Dr Reddy's Lab and Torrent Pharma jumped by 1.9% and 1.6% respectively.

Heavyweights such as Cipla, Divis Lab, Biocon and Sun Pharma advanced more than 1% each.

Lupin zoomed by 0.7%, while Aurobindo Pharma was marginally up. All stocks listed on Nifty Pharma were performing in green.

According to the Ministry of Health and Family Welfare. India reports 44,230 new cases in the last 24 hours, while recovered 42,360 patients. Meanwhile, 45.60cr Vaccine Doses administered so far under Nationwide Vaccination Drive.

On Thursday, US President Joe Biden stepped up actions to tackle the rapid spread of Covid-19's Delta variant. He has asked every US federal worker to either declare they are fully vaccinated and if not then they will be needed to wear masks and be tested.

Delta variant which was first detected in India has now made its way in other parts of the world. The World Health Organization yesterday stated that the variant has led to a surge in the coronavirus outbreak that has triggered the fourth wave in the regions of the Middle East where vaccination drive is still low. 

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