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The pharma sector saw a sharp recovery towards the end of the week with gains of 3% as discussion on new pharma policy got postponed in India. There was some positive momentum in liquor stocks after the Supreme court clarified that the liquor ban near highways does not apply within city limits.
Market expert Atul Suri says technical charts indicate that the CNX Midcap index could slide all the way to 10,000 in the short term. And while the downside in the Nifty may not be as severe, there could be a rub off effect of the downtrend, Suri says
Devang Mehta of Anand Rathi, says the alarm bells on midcaps started ringing last week itself and now is a good time to exit the stocks as the rally now will only been seen in good quality names.
The index hit a record high of 11594.42, before settling at 11585.58. Its counterpart on the NSE, the CNX Midcap closed on a subdued note at 14,137.40, but is barely 80 points away from its peak seen earlier this week.
Despite earlier surprises, mkt ends week flat
Anu Jain, Director, Equities IIFL Private Wealth Management shared her readings and outlook on the market, stocks and sectors. Nifty is not reflecting all that is happening on the broader markets she told in an interview to CNBC-TV18.
Amit Gupta of ICICI Direct shares his market outlook and views on various stocks. He says, "My sense is if Nifty starts slipping below those levels, you will see more panic creeping in and the market possibly may go down till 5,820-5,830 kind of levels".
In an interview to CNBC-TV18, Anil Manghnani of Modern Shares and Stock Brokers shared his reading and outlook on market and specific stocks.
In an interview with CNBC-TV18, Hemant Thukral of Aditya Birla Money, spoke about his reading of the market and his outlook.
It was a bullish close to Indian equities on Friday, with most action seen in the broader markets.
IDFC Small and Midcap Equity Fund changed its name to IDFC Sterling Equity Fund. All the terms and conditions of the Scheme Information Document(s) remain unchanged and no amendment is announced.
