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Healthcare stocks surprise in a weak mkt

September 25, 2009

MARKETS-SOUTHASIA-STOCKSThe BSE Healthcare index bucked the trend on Friday and rose over 5 percent in a weak market that saw the main index closing 0.5 percent lower.

Dr. Reddy’s shares jumped over 10 percent, Orchid Chemicals gained over 9 percent, and Aurobindo Pharma rose over 8 percent.

On a long-term perspective, stocks like Orchid Chemical have risen by over 80 percent since July.

Of the 24 scrips in the healthcare index, only two ended in the red, while 11 stocks rose 5 percent or more.

Though the healthcare index has gained 21 percent since July, it has performed better than the Sensex’s rise of 15 percent in the same period.

Would you invest in this sector at current market levels?

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