Nifty 50 Slips, But Broader Markets Lead the Charge; Consumer Durables and Pharma Sectors Outperform 

Pharma, Consumer Durables Lead Gains as Bajaj Finance & Adani Ports Drag; Market Breadth Stays Positive

Previously revolutionising the IT industry, these technological advancements are currently enhancing efficiency, productivity and cost control in the pharmaceutical industry

The Nifty Pharmaceutical index has surged by an impressive 30 per cent on a year-to-date basis in 2023, significantly outperforming the Nifty 50 index. Against the backdrop of India experiencing a single-day spike of 628 new COVID-19 cases

Upcoming collaboration: Two leading pharma company stocks to watch out for                                                                                                                                                                                            US FDA approved a benzyl alcohol and propylene glycol-free formulation to minimize gasping syndrome risk, for the treatment of seizures in newborns.

On National Stock Exchange (NSE) has revised the circuit limit of two stocks. Out of two stocks, one stock has seen circuit limit being narrowed while for the other one, circuit filter got widened.

At 2.30 pm on Thursday, the markets were seen recovering from the day’s low as Asia- Pacific markets tumbled following the overnight cooling off of the most recent Wall Street rise.  

The pharmaceutical sector in India ranks third in terms of volume and fourteenth in terms of value (both globally).  The domestic market is anticipated to increase three times in the next ten years, according to the Indian Economic Survey 2021.

Going ahead, the stock selection is going to be of paramount importance and hence, we have chalked down a list of stocks that are likely to outperform.  Here is the list of stocks    

We expect the market to continue its momentum and hence, we have shortlisted the names of some stocks, which should be on your watchlist for swing trading purposes. These stocks are based on the T20 breakout system.   

Another interesting point is that it’s not very usual these days to see pharma stock jumping 8-9 per cent but on Tuesday, Lupin broke this jinx as it soared nearly 9 per cent. Certainly, this might have brought a million-dollar smile to the faces of Lupin investors.