On Friday, the pharma index was trading as the top gainer among the sectoral indices on NSE amid a fresh fall in the Indian rupee against the US dollar. Today, the rupee slumped to a fresh record low of 71 against the dollar for the first time ever by falling 26 paise on persistent demand for the US currency amid rising crude prices. During the morning session, the rupee was trading at 70.96, down by 22 paise. The Nifty Pharma index was trading at 1.98 percent up at 10,321.1 around 11 am, with all components in the green.

In the nifty index, shares of Piramal Enterprises and Cadila Healthcare were the top gainers. Other stocks, those went up significantly are Aurobindo Pharma, Sun Pharmaceutical Industries, and Dr. Reddy’s Laboratories. Lupin, Cipla, Biocon, Glenmark Pharmaceuticals and Divi’s Laboratories advanced in that order.

Market erased the entire gains of an early session as caution crept in ahead of Q1 GDP numbers. Weak Asian peers offered no hope, while Indian rupee extended its fall against the US dollar. Asian stocks declined after reports emerged that Trump administration was preparing to impose fresh tariffs on Chinese imports.

The post Today, Pharma Index Was Trading As Top Gainer appeared first on Money Classic Research | Intraday tips and trading strategies.