Gold Silver Reports – Indian shares touched record highs for a third consecutive session on Wednesday, with investors picking pharma stocks such as Sun Pharma that have lagged a broader market rally this year.
The gains tracked Asian shares, which edged higher as a rally in commodities to multi-year peaks pushed resources-linked stocks up. “Global liquidity and lack of other attractive investment options are supporting the current global equity rally. Pharma and IT stocks are available at attractive valuations, so some steam is visible there,” said Sumit Pokharna, deputy vice president at Kotak Securities. The markets were also supported by fund flows from domestic investors. On Tuesday, DIIs bought shares worth a net Rs54,500 crore, according to BSE data.
Aurobindo Pharma
Aurobindo Pharma Ltd said that the company has received final approval from the USFDA to manufacture and market Fondaparinux Sodium injection, a bioequivalent and therapeutically equivalent to the reference listed drug product Arixtra Injection of Mylan Ireland. Shares rose 1.86% to Rs696.70.
