InvestorQ : Is it true that the Pharma index has been gaining even in the midst of the overall market correction?
Dia Deshpande made post

Is it true that the Pharma index has been gaining even in the midst of the overall market correction?

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swati Bakhda answered.
4 weeks ago
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Even in the midst of the chaos and volatility in the stock markets, the NSE Pharma index gained 2% in the bourses on 20 April. This was after a very significant resurgence in COVID-19 cases and that has resulted in a sudden surge in demand for Covid-related drugs. As a result, a number of beneficiary stocks like Cipla, Gland Pharma JP Chemicals, Neuland, Glenmark, Sun Pharma and Cadila Life have all managed to hit life-time highs on 20 April.

One reason for the sharp spike in pharma stocks was also because the government has now taken a decision to open up vaccination for anyone over 18 years of age. The new rule will be effective from 01 May and is suggested to cover a major chunk of the Indian population under the inoculation drive. That gives more leeway to the private sector and also to the state governments. India needs to scale up output rapidly and that is the first priority.

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