Nifty Pharma index sees biggest jump in four months, shows data

Pharma shares rallied on Tuesday as investors looked to prune exposure from pockets that have rallied and move money into the ones which have been laggards. 

The Nifty Pharma index finished at 12,750, up 3.1 per cent — most since May 20 and third biggest single-day gain of the year. By comparison, the Nifty50 index finished with 1.1 per cent gain. Barring two, all components of the 20-share index rallied, with Cipla and Lupin surging the most at 5.5 per cent and 4.7 per cent, respectively.

The pharma sector is seen as a defensive play. It tends to outperform the