Pharma Stocks Outlook For The Week - 22 To 26.10.2018
Stocks of pharmaceutical companies are likely to extend their gains next week due to likely defensive buying by domestic mutual funds. The gains, however, may be limited due to a hit to sentiment from the Form 483 issued by the US Food and Drug Administration to the company's unit. Investors will focus on quarterly earnings, as Dr Reddy's Laboratories kick- starts the Jul-Sep earnings season for pharmaceutical companies. Investors will await the Hyderabad-based company's earnings to take cues for other companies in this segment. This week, the Nifty Pharma index outperformed the benchmark Nifty 50, closing with gains of 1.3%, against a loss of 1.6% for the Nifty 50. Cues from the broader market are unlikely to be supportive, as benchmark indices are expected to be weak next week due to cues from global equity markets and ongoing geopolitical tensions between the US and Saudi Arabia.
Source : Cogencis Information Services Ltd.
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Stocks of pharmaceutical companies are likely to extend their gains next week due to likely defensive buying by domestic mutual funds. The gains, however, may be limited due to a hit to sentiment from the Form 483 issued by the US Food and Drug Administration to the company's unit. Investors will focus on quarterly earnings, as Dr Reddy's Laboratories kick- starts the Jul-Sep earnings season for pharmaceutical companies. Investors will await the Hyderabad-based company's earnings to take cues for other companies in this segment. This week, the Nifty Pharma index outperformed the benchmark Nifty 50, closing with gains of 1.3%, against a loss of 1.6% for the Nifty 50. Cues from the broader market are unlikely to be supportive, as benchmark indices are expected to be weak next week due to cues from global equity markets and ongoing geopolitical tensions between the US and Saudi Arabia.
Source : Cogencis Information Services Ltd.
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