Market Markers - 20Oct20
20 October 2020 | News
Bullishness set to return in pharma and biotech shares after correction on Monday
NIFTY Pharma - after the correction
Pharma shares and indices showed correction on the back of strong performance at the close of the last week, while the overall market showed gains on the back of bank and auto shares.
Divi’s labs fell by 4.2% and evaporated all gain since last week with CIPLA and Biocon showing corrections of over 2% each. All constituents of the NSE Pharma index showed corrections resulting in 1.7% overall correction in the index to close at 11.616.65. The corrections and losses were not so widespread in the broader BSE healthcare index resulting in a comparatively mild correction of 0.9% at 19742.73 for the healthcare index.
Going forward, Torrent and Lupin are expected to witness activity leading the bullish trend in Pharma sector shares.
|
closing rates on: 19th Oct 2020 |
|
|
|
|
S&P BSE Healthcare |
19,742.73 |
- 173.77 |
-0.9% |
|
Nifty Pharma |
11,616.65 |
- 197.45 |
-1.7% |
|
BSE SENSEX |
40,431.60 |
448.62 |
1.1% |
|
NIFTY 50 |
11,873.05 |
110.60 |
0.9% |
|
|
|
|
|
|
Dr.Reddy's Laboratories Ltd |
5,058.15 |
- 40.45 |
-0.8% |
|
Cipla Ltd |
764.00 |
- 16.60 |
-2.2% |
|
Sun Pharmaceutical Industries Limited |
483.65 |
- 2.85 |
-0.6% |
|
Divi's Laboratories Ltd |
3,093.40 |
- 131.00 |
-4.2% |
|
Cadila Healthcare Ltd |
422.70 |
- 7.20 |
-1.7% |
|
Biocon Ltd |
437.90 |
- 9.95 |
-2.3% |
|
Sanofi India Ltd |
8,655.70 |
13.70 |
0.2% |
