Pharma stocks surge on positive cues from Nifty healthcare, Cipla up 6%
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Taking positive cues from Nifty healthcare index, domestic pharma stocks outperformed all other sectoral stocks on Friday, with shares of Cipla leading the pack.
Nifty pharma index was the top mover among all the sectoral indices, rallying 2.5 per cent, while Nifty healthcare rose 2.6 per cent.
Outlook for Indian drug exporters turned positive on prospects of firm exports amid the ongoing geo-political scenario, said analysts.
Investors buying on dips after the recent correction also somewhat supported the stocks on Friday.
Shares of Cipla settled nearly 6 per cent higher from the previous close at Rs 1,045.
Laurus Labs shares rose 4.7 per cent, Sun Pharmaceutical's 3.7 per cent, Torrent Pharma's 1.7 per cent, Dr Reddy's Labs 2.1 per cent, and Aurobindo Pharma 1.9 per cent.
