Monday, 3 September 2018

BSE Healthcare index gains; Sun Pharma, Dr. Reddys Lab hit 52-week high

The BSE Healthcare index was trading up 1.69% at 16,216 on BSE. Sensex was trading up by 32 points at 38,676 and Nifty rose 13 points to 11,693. Sun Pharmaceuticals, Dr. Reddy’s, Lupin, Cadila, and Aurobindo contributed majorly to the gain in the index . In past 14 trading days, the healthcare index has outperformed the market by surging 15% vs. a 2.3% rise in the benchmark index. Hikal was the top gainer in the index, trading higher by 13% at Rs182.60 per share. Sun Pharma’s hit 52-week high after media reports stating that the Halol plant audit by the USFDA was complete with no observations. On the other hand, Piramal Enterprises, Pfizer, HCG, and Suven Life were trading in the red. Meanwhile, shares of Sun Pharmaceutical Industries, Dr. Reddys Laboratories, Glenmark Pharmaceuticals, Torrent Pharmaceuticals, Abbott India, Merck, Sanofi India, and GlaxoSmithKline Pharmaceuticals were among 11 stock that hit their respective 52-week highs.

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