Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, on Tuesday said a strong buzz was recently seen in the pharma and healthcare space. On the stock-specific front, the market expert selected Cipla Ltd as one of his top picks for the day. "For Cipla, expected near-term target will be Rs 1,500. On the lower end, Rs 1,450 will act a support zone," Krishan told Business Today TV.
The other stock which he suggested was Dr Lal PathLabs Ltd. "The stock can see a decent up move. On the higher side, expected target will be Rs 2,560-2,580. Keep stop loss placed at Rs Rs 2,440," the analyst from Angel One stated.
Meanwhile, Indian equity benchmarks were almost flat in late-morning deals, as losses in IT and energy stocks countered gains in banks and financials. Broader market (small- and mid-cap shares) were negative as Nifty Midcap 100 fell 0.24 per cent and small-cap shed 0.09 per cent.
Eight out of the 15 sector gauges -- compiled by the NSE -- were trading in the red. Sub-indexes Nifty IT and Nifty Oil & Gas were underperforming the NSE platform by falling as much as 0.79 per cent and 1.01 per cent, respectively. However, Nifty Bank and Nifty Financial Services rose 0.60 per cent and 0.72 per cent, each.
On the stock-specific front, Hero MotCorp was the top loser in the Nifty pack as the stock cracked 3.13 per cent to trade at Rs 4,700.6. Coal India, BPCL, Eicher Motors and Cipla slipped up to 2.85 per cent.
In contrast, PowerGrid, Grasim, Kotak Mahindra Bank, HDFC Bank and NTPC were among the top gainers.
The overall market breadth was positive as 1,982 shares were advancing while 1,595 were declining on BSE.
(Disclaimer: Business Today provides stock market news for informational purposes only and that should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.)
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