Pharma Stocks Outlook For The Week - 10 To 14.09.2018

Pharma Stocks Outlook For The Week - 10 To 14.09.2018

             Equity Cash/Futures/Options Segment 

Stocks of pharmaceutical companies are likely to extend their gains next week as the rupee's
weakness against the US dollar and buying by domestic mutual funds are expected to support
investor sentiment for the sector. Mutual funds, which have recently turned overweight on the
sector, have continued to buy shares in the space, banking on a recovery in earnings growth after
three years of declining revenues. This week, the Nifty Pharma index outperformed the broader
market and registered gains of 2.6%. Cues from the broader market are expected to be supportive for stocks of pharmaceutical companies, as benchmark indices are likely to move higher due to likely short covering. However, the extent of the gains in the benchmarks will hinge on any recovery in the rupee against the US dollar.

Source : Cogencis Information Services Ltd.

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