Journal of Contemporary Issues in Business and Government

COVID-19 has hit the global economy and the emotions of the world stock
market tremendously. Indian Financial market faced a deep steep based on global cues
and just before the lockdown in India. Sharp volatility was observed on daily basis but
since long an underperforming pharmaceutical sector substantially increased globally
based on news. The research tries analysing how positive news has helped pharmaceutical
sector stocks to become multibaggers during pandemic. The sample period taken for the
study is 6 months from (January, 2020- June, 2020) three months before lockdown and
three months after lockdown in India. The index was 41, 306 on January 1, 2020 and on
the day of lockdown March 25, 2020 index has fallen to 28, 535 but still it helped
pharmaceutical sector to grow substantially.