In Mumbai trading so far this year, Lupin Ltd has climbed 32 percent, Dr. Reddy's 31 percent, Glenmark Pharmaceuticals 42 percent and Wockhardt 29 percent.
European equities ended up 0.2 percent, building on early relief after Chinese stocks managed to bounce from steep losses before closing slightly lower.
MSCI said that recent market gyrations in China and a barrage of interventions by the authorities to stop the rout will not be a factor in deciding whether to include China-listed shares in its Emerging Markets Index.
Sebi has ordered attachment of bank as well as demat accounts of Gemini Communication to recover dues worth over Rs 11 lakh for violations of capital market norms.