Nifty Pharma escapes volatile session, trades higher despite Covid-19 stress; Cadila, Divis Lab leads

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Nifty Pharma trades higher after falling briefly in a volatile session of Tuesday’s early deals. The index opened on a positive note but shunned early gains around noon, tracking weak domestic indices due to fears of restrictions and economic slowdown amid fresh wave of Covid-19 strain.

The sector has bounced back again to trade higher. At around 12.45 pm, the pharma index was trading at 12,315.15 up 37.00 points or 0.30%. The index has touched a low of 12,020.70 and high of 12,467.95 in the intraday trade.

Cadila, Divis Lab and Torrent Pharma emerged among the top sectorial gainers. Cadila was performing higher at Rs458.70 per piece up 1.30% while Divis Lab (up 1.10%) and Torrent Pharma (1.07%) also gained substaintially. 

Lupin (up 0.62%) contributed to the gains. Lupin received USFDA nod for generic of Banzel oral suspension.

Also, Sun Pharma,  Dr Reddys and Bison were trading in the green.

Cipla had a rare off day this month after settling litigation with Celgene. It was trading marginally lower. Meanwhile, Auro Pharma (down 1.12%) and Alkem Laboratories (down 1.57%) were top underperformers in the sector. 

BSE Sensex was trading at 45,329.82 down 224.14 points or 0.49% and Nifty 50 at 13,255.70 down 72.70 points or 0.55%.

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