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Shares of major pharmaceutical companies are seen trading from positive to flat next week as market players are likely to invest in defensive sectors owing to expectations of negative market. Pharmaceuticals and fast moving consumer goods are usually seen as safe havens when the broad market is expected to be down. On Wednesday, there is RBI (Reserve Bank of India) policy, before that market will be cautious, so pharma being defensive will gain. The central bank's decision will set the tone for the rest of the week. The market is expecting a 25 bps repo hike and this could trigger a knee jerk reaction and high beta stocks including those in bank Nifty and auto stocks may see a fall. Some companies have also launched new products in the US. Because of this, such companies have a positive outlook. The stocks of Cipla Ltd could see some consolidation in the coming week.
Shares of major pharmaceutical companies are seen trading from positive to flat next week as market players are likely to invest in defensive sectors owing to expectations of negative market. Pharmaceuticals and fast moving consumer goods are usually seen as safe havens when the broad market is expected to be down. On Wednesday, there is RBI (Reserve Bank of India) policy, before that market will be cautious, so pharma being defensive will gain. The central bank's decision will set the tone for the rest of the week. The market is expecting a 25 bps repo hike and this could trigger a knee jerk reaction and high beta stocks including those in bank Nifty and auto stocks may see a fall. Some companies have also launched new products in the US. Because of this, such companies have a positive outlook. The stocks of Cipla Ltd could see some consolidation in the coming week.
