Pharma Stocks Outlook For The Week - 02 to 06.04.2018
The shares of pharmaceutical companies are expected to trade in a narrow range next week due to lack of interest towards the sector from foreign institutional investors. Foreign institutional investors have continued to initiate short positions in the pharmaceutical companies due to the uncertainty over their earnings, and the weakness in the US drug market. Indian drug makers derive a majority of their earnings from the US.Shares of pharmaceutical companies will continue to under perform the broader market next week as well. This week, the Nifty Pharma index rose 0.4% compared with 1.2% gain in Nifty 50 index. In the broader market, benchmark indices are likely to remain subdued on global cues and as investors await the outcome of the Reserve Bank of India's two day monetary policy meeting next week.
Source : Cogencis Information Services Ltd.
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The shares of pharmaceutical companies are expected to trade in a narrow range next week due to lack of interest towards the sector from foreign institutional investors. Foreign institutional investors have continued to initiate short positions in the pharmaceutical companies due to the uncertainty over their earnings, and the weakness in the US drug market. Indian drug makers derive a majority of their earnings from the US.Shares of pharmaceutical companies will continue to under perform the broader market next week as well. This week, the Nifty Pharma index rose 0.4% compared with 1.2% gain in Nifty 50 index. In the broader market, benchmark indices are likely to remain subdued on global cues and as investors await the outcome of the Reserve Bank of India's two day monetary policy meeting next week.
Source : Cogencis Information Services Ltd.
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