Market Now: Pharma stocks in green; Jubilant Life Sciences surges over 5%

NEW DELHI: More than 40 stocks in the BSE Healthcare index were trading in green with Jubilant Life Sciences surging over 5 per cent in morning trade on Tuesday.

Benchmark BSE Healthcare index was trading 0.20 per cent higher around 10.30 am (IST).

Pharma stocks have been showing a volatile trend in the recent times and have remained mostly stock-specific. Of late, global brokerage house Credit Suisse said the pharma sector has been de-rated 10 per cent over the last one year, but with price erosion expected to increase, a further de-rating is likely.

Other major gainers in the index includes RPG Life Sciences (up 4.83 per cent), Dishman Pharmaceuticals & Chemicals (up 2.87 per cent) and Fortis Healthcare (up 2.55 per cent).

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Gufic BioSciences, Apollo Hospitals Enterprise, Hester Biosciences, Alembic and Cipla also advanced over 1 per cent in trade so far.