Nifty Pharma advances 120 pts amid volatility; Sun Pharma emerges top bull; Cipla, Gland Pharma, Lupin add to winnings

13 Jan 2022 , 11:33 AM

Nifty Pharma index rose around 1% to stabilize the markets along with bullish metal stocks tracking mixed global cues. Sun Pharma and Cipla were among the top gainers with Gland Pharma, Lupin, Glenmark outperforming.

Indian markets witnessed volatile trend as a global surge in Omicron variant cases weighed on investor sentiment. However, the performance comes after the retail inflation for the month of December has risen over the 5% mark at 5.59%. With this, the CPI inflation has risen to a 6-month level.

Further, investor sentiments are high and are expecting a good earnings season along with a mood of caution as traders evaluated spiking coronavirus cases.

At around 10:40 AM, Nifty Pharma performs at 13,954.10 up by 120.40 points or 0.87%. The index has touched an intraday high of 13,965.30 and intraday low of 13,843.60 on Thursday.

On the trading window, Nifty Pharma had 14 advances and 06 declines out of the 20 listed Pharma companies.

Heavyweight Sun Pharma performed as top gainer surging by 3% after hitting 52-week high Rs861.50 per piece followed by Cipla gaining over 1.1%.

Gland pharma (+0.87%), Lupin (+0.86%), Glenmark Pharma (+0.81%) and Aurobindo Pharma (+0.78%) were on the upside while Cadila, Divis Lab, Dr Reddy's and Alembic Pharma added some marginal gains to support the index.

Further, IPCA Lab, Strides Pharma, Pfizer and Granules were trading on a muted level but in the green.

However, Biocon dragged the index by 1.47% at Rs359.50 per piece being the top laggard on the index along with Laurus Labs and Alkem Lab shed around 0.2% each. Torrent Pharma and index heavyweight Abbott India were all under pressure.

According to the Ministry of Health and Family Welfare, in the last 24 hours India reported 2,47,417 new Covid cases across the country while Omicron tally reaches to 5,488 cases.