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Pharma stocks rally in listless trading

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Pharma stocks rally in listless trading
Glenmark Pharmaceuticals: Quotes, News
BSE 440.00BSE Quote6.55 (-1.49%)
NSE 440.85NSE Quote5.7 (-1.29%)
Cipla: Quotes, News
BSE 546.95BSE Quote10.45 (-1.91%)
NSE 547.00NSE Quote10.55 (-1.93%)
Pharma stocks were in the limelight in an otherwise lacklustre trading session with Glenmark Pharma rallying 3.24 per cent, Sun Pharma jumping 2 per cent, Piramal Enter rallying one per cent and Dr Reddy's gaining 0.80 per cent.
 

Other gainers from the sector were Cipla, Ranbaxy Laboratories and Lupin. Analysts attribute the gains in pharma stocks to renewed investor interest following better growth prospects and also hedging against any likely fall in the markets.

Pharma stocks are defensive stocks and hence do not fall, during a sharp decline in the markets.

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