Nifty Pharma stocks trade higher; Torrent Pharma, Alkem Lab, Sun Pharma stocks lead

Cipla continued to remain under selling pressure. Biocon was also in the red while Cadila was marginally lower.

Jul 22, 2021 02:07 IST India Infoline News Service

The Nifty Pharma advanced on a cautious note with the bullish markets on Thursday. Healthcare and IT were the best-performing sectors during June and the Pharma sector has continued to stretch gains in July.

The Index gained over 0.55% with Torrent Pharma, Alkem Lab, and Sun Pharma emerging top gainers as the sector outperformed. Cipla continued to remain under selling pressure.

At around 2.05 pm, Nifty Pharma was trading at 14,559.00 up 79.80 points or 0.55%, touching a high of 14,562.10 and low of 14,457.65 during intraday trade on Thursday.

BSE Sensex was trading at 52,771.59 up 573.08 points or 1.10% and Nifty50 at 801.85 up 169.75 points or 1.09%.

Torrent Pharma lifted performance by advancing 1.64% at Rs3,010.05 per piece. Alkem Lab also surged 1.5% at Rs3,446.55 per piece. Heavyweight Sun Pharma outperformed 1.1% at Rs 684.00 per piece.

Divis Lab (up 0.73%) , DR Reddy's (up 0.57%), Auro Pharma (up 0.42%), and Lupin (up 0.2%) also traded higher.

Cipla shed 0.6%at Rs949.50 per piece to emerge the biggest laggard and continue to be under selling pressure like Tuesday. Biocon was also under pressure.

Cadila was also trading marginally lower. Zydus Cadila on Wednesday received tentative approval from the USFDA for Ibrutinib Tablets.

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