Pharma shares extend rally; Dr Reddy's, Sun Pharma hit 52-week high

In past 14 trading days, Nifty Pharma index outperformed the market by surging 15% as compared to 2.3% rise in Nifty 50 index.

Shares of pharmaceutical companies continued their upward journey with Nifty Pharma index quoting higher for 11 out of past 14 trading days on the National Stock Exchange (NSE).

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 on Monday.

Hikal, Poly Medicure, RPG Lifesciences, SMS Pharmaceuticals, Nectar Lifesciences and Marksans Pharma from the S&P BSE Healthcare index were up in the range of 4% to 12% on the BSE.

At 11:25 am; Nifty Pharma index, the largest gainer