Reading the vital signs: Pharma sector, the market’s trusted antidote

Amid valuation concerns, investors are playing it safe and turning to defensive sectors. The pharmaceutical (pharma) sector has benefited from this shift, attracting investors seeking steady cash flows. On Friday, while most sectoral indices closed in the negative, the pharma index was the only one to end with gains.

Over the past month, the National Stock Exchange Nifty Pharma, with a gain of 7 per cent, has outperformed other sectoral indices, while the Nifty 50’s returns were capped at 1.6 per cent.

Over the past three months, the pharma index was the second-highest gainer with a 14