Stocks on Dalal Street might trade within a narrow band, as there is less clarity for the investors to make bets on either side. Expect the benchmark index or the Sensex to trade within a band of 60 to 70 points for the day
There was a dramatic recovery in trade towards the end of the day, yesterday. Most of the action was due to the manipulation ahead of the Futures expiry. Healthcare and Consumer Goods were the two sectors that were responsible for the up move.
Investors are cautious in the current markets as the there are no new triggers. The good news that came in the form of low interest rates for extended period, while fresh woes regarding Greek debt problems tempered the bullish sentiment.
We have seen a great deal of activity in the Midcap Pharma space. It looks like the passage of Healthcare reform has had a positive impact on Mid and Smallcap firms. We are of the opinion that the spike we have seen is not warranted for, and it is a great idea to book profits in these stocks.Ajanta Pharma, Panacea Biotech, Syncom Healthcare and Piramal Life were up in a big way. Piramal Life which is in to Research has nothing to do with this, but has been gaining for the past few days