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Anand James, Chief Market Strategist, Geojit Financial Services Banks continue to remain expectant, while Pharma has found defensive buying, helped by positive FDA observations, helping markets to put GST shocks behind. Stock specific moves have now become more dominant with earnings beginning to flow in.
After an over 300-point fall in Sensex yesterday and Nifty closing below the crucial 9,850 levels, the benchmark indices settled higher on Wednesday, while the broader indices hit fresh closing highs. Among individual stocks, a strong rally in Aurobindo Pharma, up on hopes of higher US sales, and Hindustan Unilever hitting a record high after its June quarter results, hogged the limelight. Meanwhile, a weak US dollar combined with upbeat Chinese data to lift emerging market and Asian shares to levels not seen in more than two years and global stocks to an ...
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