Eleven pharma stocks rose by 0.25% to 1.77% at 15:20 IST on BSE as rupee edged lower against the dollar.
Meanwhile, the S&P BSE Sensex was up 134.23 points or 0.49% at 27,376.01.
Among pharma stocks, Sun Pharmaceutical Industries (up 1.13%), Ranbaxy Laboratories (up 1.73%), Aurobindo Pharma (up 0.64%), Wockhardt (up 1.77%), Dr Reddy's Laboratories (up 0.51%), Strides Arcolab (up 0.45%), Shasun Pharmaceuticals (up 0.68%), Indoco Remedies (up 1.52%), Glenmark Pharmaceuticals (up 0.45%), Divi's Laboratories (up 0.95%), and Dishman Pharmaceuticals (up 0.25%) gained. Cipla fell 0.25%.
In the foreign exchange market, the rupee edged lower against the dollar due to appreciation of the greenback against other currencies overseas. The partially convertible rupee was hovering at 63.68, compared with its close of 63.57 on Friday, 26 December 2014.
Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.
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