Divis Lab, Abbott, Gland Pharma Hit Fresh 52-Week High As Nifty Pharma Witnesses Breakout

After a four-straight days losing streak, Indian headline indices in trade on Monday (October 4, 2021) are trading with gains of over 1 percent with Nifty hitting day's high of 17751 levels. Meanwhile Bank Nifty as well as broader markets also gained in line.

Divis Lab, Abbott, Gland Pharma Hit Fresh 52-Week High As Nifty Pharma Witnesses Breakout

Among Nifty sectoral indices, Nifty Pharma and Nifty Realty traded with gains of over 2 percent while there is seen across the board participation as all the sectoral indices traded in the green.

Nonetheless, Nifty Pharma index is said to witness a breakout of 52-trading sessions consolidation and has hit a fresh all-time high of 14938.25. On a year to date basis, the index has returned 15.37 percent, while in the last 1-year the Nifty Pharma returns equate to 26 percent.

19 out of 20 stocks from the Nifty Pharma traded in the green, barring IPCA Lab.

Stocks like Divis Laboratories, Abbott India and Gland Pharma traded with gains between 4-10 percent. Moreover some of the scrips from the segment hit fresh 52-week today including Divis Laboratories, Abbott India and Sun Pharma while scrips like Alkem, Cipla and Torrent Pharma are trading close to their 52-week high.

Divis Labs is the top gainer within the pack, gaining 10 percent. Moreover the volume in the scrip has hit its highest since mid-June of 20.95 lakhs as of writing this report on the NSE.

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