Pharma Stocks Outlook For The Week - 08 To 12.10.2018
Stocks of pharmaceutical companies are expected to fall next week as mutual funds may continue to
book profits following recent gains. The Nifty Pharma index rose 19% between March and September as investors counted on a turnaround in the sector's earnings in 2018-19 (Apr-Mar) and
2019-20 following strong product approvals from the US Food and Drug Administration and clearances for key facilities by the US regulator. The recent bout of correction in the sector is in-line with the fall in broader markets, and may provide investors with a long-term horizon to buy shares of specific companies. This week, the Nifty Pharma index fell 4.3% as against a 5.6% fall in the Nifty 50 index. Cues from the broader market are unlikely to be supportive as risk-averse investors are expected to sell equities on the back of expectations that the Reserve Bank of India may accelerate the pace of interest rate hikes after it changed its stance to "calibrated tightening" from "neutral" earlier.
Source : Cogencis Information Services Ltd.
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Stocks of pharmaceutical companies are expected to fall next week as mutual funds may continue to
book profits following recent gains. The Nifty Pharma index rose 19% between March and September as investors counted on a turnaround in the sector's earnings in 2018-19 (Apr-Mar) and
2019-20 following strong product approvals from the US Food and Drug Administration and clearances for key facilities by the US regulator. The recent bout of correction in the sector is in-line with the fall in broader markets, and may provide investors with a long-term horizon to buy shares of specific companies. This week, the Nifty Pharma index fell 4.3% as against a 5.6% fall in the Nifty 50 index. Cues from the broader market are unlikely to be supportive as risk-averse investors are expected to sell equities on the back of expectations that the Reserve Bank of India may accelerate the pace of interest rate hikes after it changed its stance to "calibrated tightening" from "neutral" earlier.
Source : Cogencis Information Services Ltd.
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