Of Pharma Sector, Central Bank Policy Meetings, and Top Cues in Action Today

Thu, 20 Jul Pre-Open

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The BSE Sensex closed higher by 244 points on Wednesday, while the S&P BSE Midcap Index and the S&P BSE Small Cap Index both ended up by 1%. The broader Nifty 50, too, finished higher by 72 points. Gains were seen in the realty sector, metal sector and healthcare sector.

The recent rally in the stock markets is triggered by forecast of above average monsoon rains, cooling inflation, and the quarterly earnings season. Meanwhile, the sentiment is also boosted by a rally in global markets.

As the markets continue to rally, corporate earnings of June quarter will be crucial for the NSE Nifty index to touch the 10,000 mark.

Top Stocks in Focus

Market participants will be tracking stocks of cigarette manufacturing companies. In the sector, the stock of ITC Ltd is expected to be in focus in today's trade. The stock gained around 2.6% on value buying in yesterday's trade, after shedding around 15% a day earlier as the government raised cess on cigarettes.

Bajaj Finance is expected to be in the buzz today. This comes as the company reported a 42% rise in its net profit to 4.24 billion rupees for the June quarter.

Ultratech Cement share price too is expected to remain in limelight today as the company declares its June quarter earnings yesterday. The company also got members' nod for issue of NCDs worth 90 billion rupees.

Pharma Stocks

Stocks from the pharmaceuticals sector are said to get into action on the back of strong product approvals for companies such as Aurobindo Pharma and Biocon.

Our resident trading expert and editor of Profit Hunter, Apurva Sheth also believes that Pharma stocks are all set to rally. Apurva has identified three factors that has convinced him that these stocks are on the verge of a revival. Big gains are possible.

So what are these three factors? Click here to find out.

ECB Policy Meeting

In the global financial markets, investors are keeping tabs on the European Central Bank (ECB) policy meet this week. Many expect the central bank is unlikely to signal significant policy tweaks.

With inflation in the eurozone slowly rebounding, the ECB is preparing to dial back its ultra-low rates and massive bond purchases. But make no mistake - it will be a challenge for the bank's years of easy money policies.

The ECB has been pouring money into the eurozone to boost inflation from a near-deflationary level.

Most of the economic problems we see today have been fueled by the easy money policies that central banks have adopted around the world. However, with the changes of late at central banks, it seems that the end of easy money is near.

BoJ Policy Meeting

Along with ECB, investors are also tracking the conclusion of Bank of Japan's (BoJ) policy meeting.

As per the expectations, the central bank is set to raise its economic growth forecasts but cut its rosy inflation outlook.

On Wednesday, Japan's government left unchanged its overall view that the economy is recovering gradually due to pick up in consumer spending and exports.

While the above developments look good, there remain many issues that can hamper Japan's economic growth. The economy is flooded with excessive money printing, too much debt, too much government intervention, and stock market manipulation.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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