Pharma shares trade firm in the weak market; Cipla, Lupin gain over 2%

Pharma stocks got a new lease of life as coronavirus pandemic got a tighter grip on the country in April.

Shares of pharmaceutical companies were back in action on Monday with Nifty Pharma index gaining over 1 per cent on the National Stock Exchange (NSE) in an otherwise weak market, after falling 3 per cent in the past three trading days.

At 11:11 am, Nifty Pharma index, the sole gainer among the sectoral indices, was up 1.2 per cent, as compared to a 4.8 per cent decline in the Nifty 50 index. Cipla, Lupin, Cadila Healthcare, Biocon, Aurobindo Pharma, Glenmark Pharmaceuticals, Sun Pharmaceutical Industries and Dr Reddy’s Laboratories were up in the range of 1.4 per cent to 4