Pharma stocks are gaining on Wednesday even as the broader markets under-perform and major indices struggle to trade in green. Meanwhile, the markets are readying to take cues from the upcoming exit polls for five states including Uttar Pradesh to be flashed across various news television screens, come Thursday.
At the time of filing this report, Divis’s Lab and Piramal Entreprises (PEL) put together are contributing almost 50% to the BSE Healthcare index which is up nearly 0.4% percent or 55 points on an intraday basis.
Divi’s Lab is up by nearly 0.4% and PEL is up by nearly 0.7% on an intraday basis. Indraprastha Medical Corporation, Marksans Pharma, Claris Lifescience, Suven Lifescience, Alembic Pharma, Natco Pharma, Cadila Healthcare, Neuland Laboratories, Jubilant Lifesciences and Morepan Laboratories are all up and moving in the range of 1% to 4.5% on an intraday basis.
Pharma stock are in focus after US president Donald Trump's tweets on drug pricing which pushed major American pharma companies' share prices down on Tuesday.