Sensex, Nifty end at 2-month high; Pharma stocks slide

Sensex, Nifty end at 2-month high; Pharma stocks slide

 BT Online   New Delhi     Last Updated: January 12, 2017  | 16:42 IST
Sensex, Nifty end higher; Pharma stocks slide

Gaining for a third straight session, the Sensex closed at 27,247, up 106 points and the Nifty50 ended the day at 8,407, up 26 points.

The benchmark indices rallied in Thursday's trade led by IT stocks.

However, gains were capped by the pharma sector in today's trade with Lupin, Dr Reddy's and Sun Pharma as the top laggards losing 1.99%, 1.29% and 0.42% respectively.

This came after the US President-elect Donald Trump in a press conference said pharmaceutical companies were "getting away with murder" in drug pricing.

Nifty Pharma index fell as much as 2.24 per cent, contributing to more than half the losses on the NSE index after Trump's comments.

NPTC and Powergrid were the top performers in Thursday's trade gaining 5.69% and 4.14% respectively.

 

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