Nifty Pharma rallies over 1%; Lupin and Cipla led the pack, Sun Pharma adds significant gains too

DR Reddys Lab was the lone laggard in the sector, shedding ~1% at Rs4,410.95 per piece.

Mar 02, 2021 01:03 IST India Infoline News Service

Nifty Pharma stocks rallied over 1% amid positive trade from benchmarks. The index gained momentum after a subdued trade in the first half of the trading session, and has outperformed exchanges. After resurgence in Covid-19 cases last month, the pharma sector is starting to set foot on the accelerator again.

Lupin, Cipla and Sun Pharma lifted the sector with substantial gains while Alkem Lab and Cadila were also in the fast lane. However, Dr Reddys was worst hit. 

At around 1.45 pm, Nifty Pharma was trading at 12,227.05 up 134.35 points or 1.11%, after touching a low of 12,099.85 and high of 12,244.60 in early hours.

Lupin surged 3% at Rs1,053.95 per piece, near the day's high of Rs1057.60 per piece on Tuesday.

Cipla also gained 2.62% at Rs810.50 per piece while Alkem Lab also advanced 2.12%.

Sun Pharma performed at Rs615.45 per piece up 1.82%. Cadila also gained 1.61%.

Auro Pharma, Divis Lab, Biocon and Torrent Pharma also traded in the green.

DR Reddys Lab was the only laggard in the sector, shedding ~1% at Rs4,410.95 per piece.

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