A few stocks from these sectors had started firming up in the past two-three sessions and the gains have been as high as 18 per cent in case of Rhone Poulenc while as many as 12 scrips have risen by over 10 per cent in the past three sessions.

Among the pharma counters, Glaxo shot past the Rs 800 level after a couple of months to close the day at Rs 805.1, up Rs 25.1 from the previous closing of Rs 780 on the Bombay Stock Exchange. Glaxo, in the past three sessions, has gained Rs 83 to the current level.

On Wednesday, E Merck rose by Rs 24.65 to Rs 645.15, German Remedies by Rs 34.55 to Rs 903.20, Knoll Pharma by Rs 44.65 to Rs 603.30, Pfizer by Rs 82.85 to Rs 1118.85, Rhone Poulenc by Rs 103.95to Rs 1423.60, Sun Pharma by Rs 28.10 to Rs 559.55 and Wockhardt by Rs 17.95 to Rs 303.80.

Among the FMCG stocks, Britannia was up Rs 64.75 to 1368.75, Cadbury by Rs 16.25 to Rs 773 and Dabur by Rs 57.35 to Rs 774.35.

The pharma stocks started consolidating a few session ago and among the other major gainers over the past three sessions, Novartis has zoomed by over Rs 150 from Rs 990 to the current level of Rs 1151, German Remedies by Rs 100 to Rs 903, Pfizer by Rs 140 to Rs 1118 and Knoll Pharma by Rs 60 to over Rs 600.

The revival in the pharma and FMCG stocks has been on expected lines as most of these stocks underperformed the BSE Sensex during the 45 per cent surge over the past two and a half months. The 1500-point rally has taken the BSE sensex to over 4700 points since April, 1999.

With most of the multinationals following the January-December year, the half yearly results are expected to be excellent which is driving these stocks. Since the upward movement has been negligible in the last twomonths, these stocks looked all the more attractive.