Pharma Stocks Outlook for the week - – 04 to 08.08.2014
( www.rupeedesk.in )
( www.rupeedesk.in )
Stocks of major pharmaceutical
companies are seen trading positively next week because
of defensive buying, as the
broader markets are expected to trade with a downward bias.
The broader markets are likely to
show a good downward move led by mid-cap and
small-cap stocks in sectors such
as auto, etc. Hence, on defensive buying, pharma is seen
positive.
The positive momentum in the
pharmaceutical sector stocks expected next week will be
primarily led by heavyweight
Nifty stocks--Sun Pharmaceutical Industries Ltd and Lupin
Ltd.
The broader markets will also be
tracking the Reserve Bank of India's monetary policy,
which will be announced on
Tuesday. The Nifty is seen falling to 7,500-7,450 points
during the next week.
The overall trend in the
pharmaceutical sector is positive and the sector saw some selling during the week ended today due
to profit booking.
