Nifty Pharma index rallies nearly 1%; Sun Pharma, Alkem Lab led the charge

Auro Pharma and Cadila also gained over 1% while DR Reddy and Lupin also made significant gains.

Jun 25, 2021 01:06 IST India Infoline News Service

Bull Market
Nifty Pharma stocks advanced with the markets bulls after a rather flat start on Friday. Sun Pharma and Alkem Lab led the rally while Auro Pharma and Cadila also gained over 1%.

Equity market indices opened on a positive note on Friday amid positive global cues, as investors globally cheered reports of US policymakers reaching an agreement over infrastructure spending plans. The gains, however, were capped as investors awaited US PCE inflation data for May scheduled for later in the day.

The markets rose again with BSE Sensex trading at 15,852.00 up 61.55 points or 0.39% and Nifty50 at 52,889.23 up 190.23 points or 0.36%.

At around 1.05 PM, Nifty Pharma was trading at 14,089.80 up 121.85 points or 0.87%, after touching a high of 14,133.45 during intraday trade.

Sun Pharma rose nearly 1.5% at Rs674.55 per piece to lift the sectorial performance. Alkem Lab was also trading 1.25% higher at Rs3,133.05 per piece. Auro Pharma gained 1.04% at Rs948.00 per piece.

Zydus Cadila listed as Cadila Healthcare Limited also advanced 1% at Rs624.20 per piece. The company on Thursday has received tentative approval from the USFDA to market Pemetrexed for Injection in the strengths of 100mg/vial, 500 mg/vial, and 1000 mg/vial, single-dose vials (US RLD: Alimta).

Dr Reddy and Lupin also gained around 0.85%, while Biocon was up 0.66%. Cipla and Divis Lab also rose around 0.5%. Torrent Pharma was also trading higher in all green trade from Nifty Pharma. 

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