Pharma Stocks Outlook For The Week - 15 To 19.10.2018
Stocks of pharmaceutical companies are expected to move in a narrow range with a negative bias next week as domestic mutual funds who bought these stocks because of their defensive nature may pare holding. Defensive stocks are known as safe havens during aggressive selling in the broader
market because of the stable returns these stocks offer. We don't see gains for pharma stocks at
the moment. The movement will largely depend on earnings going ahead. This week, the Nifty Pharma index underperformed the benchmark Nifty 50 index for the fourth consecutive week. Nifty
Pharma ended with losses of 0.2% as compared to gains of 1.5% in the Nifty 50. Cues from the
broader market are unlikely to be supportive next week as the benchmark indices may fall on
persistent risk-aversion among investors.
Source : Cogencis Information Services Ltd.
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Stocks of pharmaceutical companies are expected to move in a narrow range with a negative bias next week as domestic mutual funds who bought these stocks because of their defensive nature may pare holding. Defensive stocks are known as safe havens during aggressive selling in the broader
market because of the stable returns these stocks offer. We don't see gains for pharma stocks at
the moment. The movement will largely depend on earnings going ahead. This week, the Nifty Pharma index underperformed the benchmark Nifty 50 index for the fourth consecutive week. Nifty
Pharma ended with losses of 0.2% as compared to gains of 1.5% in the Nifty 50. Cues from the
broader market are unlikely to be supportive next week as the benchmark indices may fall on
persistent risk-aversion among investors.
Source : Cogencis Information Services Ltd.
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