Stock market update: Pharma stocks jump up to 4%; Aurobindo Pharma, Sun Pharma hog limelight
The Nifty Pharma index was trading 2.43 per cent up at 10,644 around 10:45 am on Friday with all components in the green.
Aurobindo Pharma (up 3.97 per cent) was the top gainer in the pack, followed by Piramal Enterprises (up 3.41 per cent), Glenmark Pharmaceuticals (up 2.97 per cent) and Biocon (up 2.55 per cent).
Sun Pharmaceutical Industries (up 2.16 per cent), Dr. Reddy's Laboratories (up 2.07 per cent), Cadila Healthcare (up 1.90 per cent), Cipla (up 1.90 per cent), Divi's Laboratories (up 1.77 per cent) and Lupin (up 1.67 per cent) too clocked decent gains.
Shares of Sun Phamrma surged post USFDA approval of its medicine named Xelpros to treat open-angle Glaucoma or Ocular Hypertension.
Shares of Lupin rose after USFDA's inspection of its Nagpur plant concluded without any observation which, as per experts, indicates that the standards at the fecility met the expectations of USFDA.
Benchmark NSE Nifty50 index was up 92 points at 11,462, while the BSE Sensex was up 228 points at 37,946.
Among the 50 stocks in the Nifty index, 42 were trading in the green, while 8 were in the red.
Indiabulls Housing Finance, YES Bank, BPCL, UPL and PowerGrid were among the top Nifty gainers.
Bharti Airtel, HCL Technologies, Infosys, Hindustan Unilever and ITC were among the top losers in the Nifty index.