Why is the CSL share price defying today’s sell-off?

The CSL share price is lifting while its sector is also outperforming on Thursday.

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Key points

  • The CSL share price is defying today's tumble to trade 0.53% higher 
  • Its home sector is also outperforming the broader market on Thursday
  • The stock is trading relatively in line with the ASX 200 in 2022 so far, outperforming the healthcare sector by around 4%

The CSL Limited (ASX: CSL) share price is in the green on Thursday despite the broader market’s struggles.

At the time of writing, shares in the healthcare giant are trading for $272.33, 0.53% higher than their previous close.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has tumbled 1.12%, and the All Ordinaries Index (ASX: XAO) has slipped 1.17%.

Let’s take a look at what might be helping CSL’s stock to dodge today’s carnage.

What’s buoying the CSL share price?

The CSL share price is outperforming on Thursday, as is its home sector – the S&P/ASX 200 Health Care Index (ASX: XHJ).

The health care sector has spent much of the day in the green but has just edged into the red by 0.06%.

And CSL isn’t the sector’s best performer.

It’s being beaten by ASX 200 staple Ramsay Health Care Limited (ASX: RHC). The stock is boasting a 0.71% gain right now.

Though, it’s not all sunshine for the healthcare sector on Thursday.

The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price is plunging 5.97%, making it one of the worst performers on the ASX 200.

Despite today’s gains, the CSL share price is still 8.18% lower than it was at the start of 2022. That’s compared to the ASX 200’s 7.22% year-to-date slip.

Meanwhile, the healthcare index has plummeted 12.22% this year so far.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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