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Pharma Stocks Outlook For The Week - 19 To 22.11.2018

Pharma Stocks Outlook For The Week - 19 To 22.11.2018

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             Equity Cash/Futures/Options Segment 
Stocks of pharmaceutical companies are seen moving in a narrow range next week with a negative bias as mixed earnings for the quarter ended September by these companies are likely to temper investors' optimism for the sector. Earnings of drug makers were muted in the quarter ended September as Sun Pharmaceutical Industries and Cipla sharply underperformed on market's expectation. We expect that with Apr-Sep earnings for the sector largely muted, there is a possibility that investor optimism may come back, going ahead. This week, the Nifty Pharma index underperformed the benchmark index. The pharma index fell 3.8% from last week as against a 0.9% gain in the Nifty 50. Cues from the broader market are also unlikely to help the sector because benchmark indices are seen moving in a narrow range as investors will eye the outcome of the Reserve Bank of India's board meet on Monday.

Source : Cogencis Information Services Ltd.

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