Pharma Stocks Outlook for the week – 16 to 20.06.2014
(www.rupeedesk.in)
(www.rupeedesk.in)
Stocks of major pharmaceutical stocks
are likely to move in a narrow range next week,
but may hold a positive bias if
broader markets moves down due to defensive buying.
The pharma sector is seen moving in a
range of plus and minus 2.5%. The broader
market is expected to take cues from
the WPI inflation rate for May that will be released
on Monday. If stocks of banking,
auto, infrastructure companies portray downward
movement early next week, we can
expect to see buying in pharma stocks. If the 50-
stock Nifty falls below 7500 points,
it can correct itself further. Stock of Divi's
Laboratories Ltd may outperform its
peers next week on technical, along with those of
Cipla Ltd, which may gain
2-5%.