The rupee's appreciation of 6.4 per cent against the dollar and 12 per cent against the euro is likely to hurt the first-quarter performance of the pharmaceutical sector, indicate a results' preview by broking houses.
Surya Narayan Patra of SSKI & Sharekhan discusses his picks from the pharma space
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
Though the markets have lost ground since the past few sessions, analysts do not seem worried.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.