Market-wide F&O rollovers stood at 84%. Dalal Street remains cautious going into next series with Budget expectations driving sentiments, say experts.
Nomura said core import volumes are likely to weaken further in the coming months due to demonetisation, which could lead to weak growth in container volume growth in the near term.
The year began with expectations of positive returns but certain events, particularly demonetisation, took the steam out of Indian equities.
Domestically, impact of note ban on corporate earnings, budget and GST; while globally Trump, Fed rate hike & Brexit will direct the market movements.
By end 2017, we'll perhaps quip the 9,100 mark, and move towards 9400. India will benefit from growth in the US and Europe, says chief portfolio strategist.
With four sessions remaining for the year to end, the Nifty Pharma index is down 17.3% so far in 2016, compared to the Nifty which is down 0.5%.
“Metal prices have gained across the board, so margin pressure will be there with a lag,” said Dhananjay Sinha, head-institutional research at Emkay Global.
The observations are related to data integrity, violation of current good manufacturing practices and improper controls.
The stock closed at Rs 866.10 — its lowest level since May 2015.
Putting its target price under review, Sharekhan advised investors to avoid buying the stock and wait for more clarity on the development.
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