IT,Pharma stocks may witness ups & downs, courtesy Trump
Shital Jibhe / 23 Jan 2017
The newly elected 45th President of the United States, Donald Trump in his inauguration speech on January 21 made a lot of headwinds, which India should worry about.
The newly elected 45th President of the United States, Donald Trump in his inauguration speech on January 21 made a lot of headwinds, which India should worry about.
Trump's new economic policy, popularly called 'Trumpnomics' is set to take off in full swing. On Monday, the markets are expected to react to Donald Trump's speech which focussed on 'America First'. His attack on specific sectors such as pharma and IT may put markets on the defensive.
Both IT and Pharma industries derive more than 50 per cent of its income overseas. Donald Trump statement to 'Buy American and Hire American' may add worry to the stock of both the industry. On the other hand, this statement may even dampen or weaker the rupee on January 23.
Infosys, TCS, HCL, Tech Mahindra, Wipro are the few IT stock which may decide the direction of the IT Index and SunPharma, Cipla, Dr Reddy’s lab, Glenmark, Aurobindo Pharma stocks may drag the Bombay Stock Exchange (BSE) Healthcare index.
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