New Delhi, May 21 -- Pharma stocks have staged a strong rally this year, defying broader weakness in the Indian stock market amid rising geopolitical tensions stemming from the US-Iran war in the Middle East.

The Nifty Pharma index has surged nearly 11% over the past month, significantly outperforming the Nifty 50, which declined 3.6% during the same period. On a year-to-date (YTD) basis, the Nifty Pharma index has gained 9.4%, while the benchmark Nifty 50 has fallen by an equal margin.

The pharma sector has also outperformed most peers, many of which remain under pressure due to global headwinds, elevated energy prices, and subdued earnings growth.

With the exception of two constituents, all stocks in the Nifty Pharma index posted pos...