Pharma stocks rally in listless trading

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Pharma stocks rally in listless trading
Glenmark Pharmaceuticals: Quotes, News
BSE 593.70BSE Quote17.3 (2.91%)
NSE 595.80NSE Quote15.1 (2.53%)
Cipla: Quotes, News
BSE 560.75BSE Quote4.95 (0.88%)
NSE 561.75NSE Quote3.55 (0.63%)
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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Read more about: pharma, ranbaxy
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