Pharma stocks gain up to 5% after Trump win

Pharma stocks today surged up to 5 per cent after Donald Trump was elected the US President crushing strongly-favoured Democratic rival Hillary Clinton, driven by hopes that the new regime would be less disruptive for the sector.
Shares of Dr Reddy's Lab surged 5.04 per cent, Morepen Lab 4.46 per cent and Sun Pharma 4.07 per cent on BSE.
Natco Pharma rose 3.76 per cent, Suven Life Sciences (2.75 per cent), Lupin (1.31 per cent) and Glenmark Pharma (0.99 per cent).
The BSE healthcare index rose 1.48 per cent to end at 15,472.44.
"The recovery rallies were also aided by pharma stocks which jumped on assumption that the new regime in the US may be less disruptive," said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.

The BSE Sensex ended the day with a loss of 338.61 points at 27,252.53 after tumbling sharply during the day.

"Pharma stocks have fared better today since there has been lesser mention on cutting down of healthcare costs," said Kamlesh Rao, CEO, Kotak Securities.
Riding a wave of anti-establishment resentment in a closely-contested race to become the 45th US President, the 70-year-old billionaire businessman, who took to politics only 18 months ago, won with a comfortable margin securing 289 electoral college votes against Clinton's 218.
Last week, pharma stocks came under massive selling pressure amid reports that US prosecutors could file charges by year-end in an investigation of generic makers over suspected price collusion.