Divi's Lab, Aurobindo Pharma: Are pharma stocks losing their sheen? Read on

Till Nifty Pharma holds above the 11,180 mark, the bullish bias will prevail, charts suggest.

It seems stock markets have got a new lease of life after two favourable developments - Joe Biden's win in US Presidential elections and drug company Pfizer's announcement that its experimental Covid-19 vaccine was more than 90 per cent effective based on initial trial results.

The benchmark indices logged fresh high levels for the second consecutive session on Tuesday. On Wednesday, too, they rallied in the early deals but slipped later due to profit-booking. Amid this dream rally, sectors that have outperformed this year — such as information technology (IT) and pharmaceutical - fell sharply. For instance, both Nifty IT