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A slow offtake in the acute season resulted in weaker sales within the segment, dragging overall sales growth in the domestic pharma market in July.
The ace investor also expects significant buying by foreign and domestic institutional investors in the days ahead
On the domestic front, the RBI interest rate decision will be the key factor to watch out for, while globally, the participants will take cue from the US inflation numbers releasing on August 10.
Ipca Labs had informed the exchanges last week of receiving a go ahead from the Competition Commission of India for acquiring a majority stake in Unichem Labs.
But we look at this as an opportunity to create fresh trades and a fall to 19,430 or something would be broadly called shallow, although from the high of 19,990 you may say okay it is like 3-4% or something but that is fair.