On a lazy market day, pharma does some magic overpowering Trump

DSIJ Intelligence / 03 Feb 2017

While the major sectorial indices are trading flat to negative on the last trading day of the first week of February, S&P BSE Healthcare outperforms to gain 1 per cent. Granules shot up 10 per cent on getting the renewal inspection completed by Portugal operator, significantly.

IT and pharma are the two major sectors which are underperforming for the last few sessions ever since the US President, Donald Trump made announcements on reviewing policies related to these two sectors. Pharma is showing some strength still as many pharma companies' performance are driven by many other countries other than the US.

Stocks of Granules also shot up by more than 10 per cent to make a high of Rs 128.40 per share on the announcement of successful completion of renewal inspection at their Gagillapur facility by Portugal regulator Instituto Nacional da Farmácia e do Medicamento (IFARMED). The stock has exchanged hands 43.32 lakh times, which is almost four times higher than the two weeks average volume of the stock. 

As on 11.10 a.m, These are the star performers of the sector on Friday :

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