Thirteen pharma stocks rose 0.4% to 3.14% at 10:23 IST on BSE as rupee edged lower against the dollar today, 20 August 2014.
Glenmark Pharmaceuticals (up 3.14% at Rs 742.05), Aurobindo Pharma (up 2.1% at Rs 784.05), Ranbaxy Laboratroes (up 2.02% at Rs 614), Piramal Enterprises (up 2% at Rs 714.75), Sun Pharmaceutical Industries (up 1.83% at Rs 824.35), Biocon (up 1.78% at Rs 480.05), Wockhardt (up 1.66% at Rs 710.90), Divi's Laboratories (up 1.66% at Rs 1,514.75), Dr Reddy's Laboratories (up 1.37% at Rs 2,863.05.), Lupin (up 1.03% at Rs 1,228.95), Cadila Healthcare (up 0.96% at Rs 1,203.50), Cipla (up 0.79% at Rs 477.70), and IPCA Laboratories (up 0.4% at Rs 734) edged higher.
Meanwhile, the S&P BSE Sensex was down 33.32 points or 0.13% at 26,387.35.
Pharma stocks advanced as the rupee edged lower against the dollar today, 20 August 2014. Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 60.85, compared with its close of 60.685 on Tuesday, 19 August 2014.
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