Quote on Market fall, Pharma and FMCG sector holding By Yash Gupta, Angel One Ltd
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Below is quote on Market fall, Pharma and FMCG sector holding By Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
Nifty 50 fall 2.5% and bank nifty fall 3.4% while Pharma and FMCG held strong. Market falls today on the back of global concern along with omicron virus concern in India. Nifty 50 has touched the lows of 16411 and now trading at 16555 after some recovery in the market, while bank nifty has fallen more than the nifty and touched the low of 34020.
On the border market side, Nifty midcap 100 down by 3.95% and Nifty small-cap down by 4.05%. Nifty Pharma trading at 13134 down by 0.73%, Nifty FMCG at 35950 down by 1.3%. We are suggesting investors be cautious on the market and avoid buy on dips strategy along with this we suggest investing some portion of the portfolio in the defensive sector. We have a buy call on Sun Pharmaceuticals Limited with a target price of ₹950.
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