Pharma stocks surged on Wednesday, supported by strong earnings and a weakening rupee, even as Sensex and Nifty traded lower. The Nifty Pharma index rebounded from early losses to rise nearly 1%, crossing the 25,000 mark and hitting a fresh 52-week high of 25,043.
Laurence Balanco flags 5% downside risk for Nifty amid global yield surge
Global financial markets are experiencing a risk-off shift driven by rising sovereign bond yields, impacting equities and commodities. Market strategist Laurence Balanco notes that bond