Pharma shares extend gain in subdued market; Aurobindo, Divi's Labs up 4%

At 03:16 pm; the Nifty Pharma index, the sole gainer among sectoral indices, was up 2%, as compared to 0.49% decline in Nifty 50 index.

Shares of pharmaceutical companies were trading higher for a seventh consecutive session on Thursday, with the Nifty Pharma index gaining 12% during this period, compared to a 2% rise in the Nifty 50 index.

At 03:16 pm; the Nifty Pharma index, the sole gainer among sectoral indices, was up 2% at 9,124 on the National Stock Exchange (NSE). The index hit an intra-day high of 9,132, bouncing back 2.3% from its early morning low of 8,923. On comparison, the Nifty 50 index was trading 0.49% lower at 10,803.

Analysts attribute the run-up to positive corporate announcements on the