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IT, Pharma sectors take the lead: Sectorally, the IT sector hogged the limelight as the S&P BSE IT index recorded gains of 34 percent in the September quarter, followed by the S&P BSE Healthcare index which was up 21 percent in the September quarter.
Selling pressure was seen in the S&P BSE Telecom index which fell 7.3 percent, followed by the S&P BSE Power index that was down 2.1 percent, and the S&P BSE Healthcare index fell 1.2 percent.
Shares of #Pharmaceutical companies were on a roll on Friday, with the S&P #BSE Healthcare index surging over 3% to hit a record on the back of positive news flow. #HealthCareIndustry #StockMarket
On the sectoral front, the S&P BSE Energy index was up 1.7 percent, followed by the S&P BSE Metal index gained 1.2 percent, and the S&P BSE Healthcare index was up 1.09 percent.
Banking stocks led the losses with BSE bankex losing 918 points to 26,972 against previous close of 27,891. BSE healthcare index slipped 891 points to 18,387. All 19 BSE sectoral indices closed in the red. Bank Nifty too fell 769 points or 3.14% to 23,754.
BSE Healthcare Index (@ 19,500) is now at All Time Highs. An Investment case was presented at ~13,000 in November.
Selling pressure was seen in the consumer durables index that was down 1.7 percent. The S&P BSE IT index fell 1.1 percent and the S&P BSE Healthcare index closed 0.3 percent lower. A volume spike of more than 100 percent was seen in M&M, RBL Bank, Berger Paints and Torrent Power
Sectorally, the S&P BSE IT index rose 4 percent followed by the S&P BSE Healthcare index, which was up 1.2 percent. The S&P BSE Bankex rose 1.2 percent. Selling pressure was seen in the S&P BSE Telecom index that was down 1.5 percent and the S&P BSE Power index fell 0.96 percent
S&P BSE Energy index was up 2.2 percent, S&P BSE Telecom index was up 0.75 percent and the S&P BSE Healthcare index rose 0.67 percent. Volume spike of more than 100 percent was seen in stocks like Biocon, IDFC First, and Equitas
I have been Bullish on pharma since Nov, as one can see BSE Healthcare post on the same site link below, simultaneously being Bearish on NIFTY & other sectors. Sure the bearish tweets may have already overwhelmed you by now 😅 If & when I change my stance on any Index, will post.
So a comparison with any market is unfair as every country is on different growth curve. Consider this, BSE Healthcare is -3% from top, Telecom -8% (Jio not part of this), IT -17% vs 46% drop in Bankex. Undoubtedly India can & will continue to remain bottom-up market....(end)
In the broader market, midcaps and smallcaps underperformed largecaps. Sectorally, BSE Healthcare, Capital Goods and Realty indices ended the day in the green while telecom emerged the sole loser.
BSE FMCG and BSE Healthcare are the only two sectors in the green today. While all segments are declining, Mega Cap are dragging the market with Nifty 50 down -2.7% #markets #MarketUpdate
In April 2020, among the various sector benchmarks, top gainer was S&P BSE Health Care which gave returns of 26.2%, whereas S&P BSE FMCG gave the least return of 5.0%. #StockMarket #MutualFundUpdates #Trading #BSE