In the past two months, FIIs have been selling ahead of the upcoming election results, while retail investors remain cautious with a bias on investing in mid and small-cap stocks.
Nifty 100 ranks high for 3 and 5 years, offering lower risk-adjusted returns. Nifty Mid and Small indices rank low, with Midcap index providing higher returns but also higher risk. Nifty LargeMidcap 250 index consistently ranks 2nd, offering high risk-adjusted returns.
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The better way to play pharma is Sun Pharma and Aurobindo which we like. The other trend is domestic outlook for the growth for pharma. The proxy there is Torrent and Ajanta.Railways have new avenues of growth and strong momentum. Medium-term targets and government support improve growth prospects. Larger railway stocks like Concor, Kalpataru, and KEC are attractive due to their involvement in electrification lines. Having said that, some of the mid and smallcaps have run up much sharper.
Budget is a non-event for equity markets, say experts, as indices traded flat with negative bias.PSU Bank stocks rallied as bond markets cheered FM’s fiscal