At around 3.05 pm, BSE Sensex was trading at 59,003.09 up 512.16 points or 0.88% and Nifty50 at 17,554.95 up 158.05 points or 0.91%.
Nifty Pharma was trading at 14,269.60 up 172.35 points or 1.225, after touching a high of 14,292.60 and low of 14,033.40 during intraday trade.
Biocon led the gains at Rs367.25 per piece up 1.9%. Auro Pharma was 1.85% higher at Rs725.55 per piece.Cipla also gained 1.84% at Rs955.40 per piece. Alkem Lab was 1.68% higher at Rs3,851.20 per piece. Dr Reddy's was 1.57% higher at Rs4,849.80 per piece.
Divis Lab and Sun Phamra also gained more than 1%.
Torrent Pharma and Lupin were under pressure on the flip side.