Sensex up 100 points, pharma stocks see red on Trump remarks

Domestic stock exchanges were trading in above the red line on Thursday morning tracking strength in the Asian markets. 

BSE Sensex was at 27,251.62, up 111.21 or 0.41% from previous close. At the same time, the broader 50-share National Stock Exchange Nifty was at 8,394.55, up 13.90 or 0.17% from previous close. 

The top gainers on the BSE were Cyient up 5.46%, Bata India up 4.09%, Biocon up 3.68%, DHFL up 2.78% and J K Lakshmi Cement up 2.67%. 

However, pharmaceutical stocks took a hit on the domestic bourses after US President Elect Donald Trump's first presser since winning the elections.

While Trump promised that drug pricing policies in the US would change, the President Elect who would take office on January 20, also added that US pharma companies were "getting away with murder" by charging high prices. He also said that drug manufacturing would be brought back to the US. 

In the US, The S&P 500 healthcare index lost 1%, while the Nasdaq biotechnology index sank 2.96%. 

On the BSE, Sun Pharma was trading at Rs 635.25, down Rs 12.45 or 1.92% lower, Alembic Pharma down 0.51%, Ajanta Pharma down 1.37%, Aurobindo Pharma down 1.70%, Dr Reddy's down 2.05%, Lupin Pharma down 1.53%. An indication to repeal Obamacare also hit pharma stocks abroad and in India. 

IT giant Tata Consultancy Services (TCS) is slated to announce its third quarter results on Thursday.