Stock markets in India are trading lower presently. Among the sectoral indices, metal stocks and energy stocks are witnessing maximum selling pressure.
The BSE Sensex is trading lower by 146 points (down 0.4%), and the NSE Nifty is trading lower by 17 points (down 0.2%). Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% & 1% respectively. The rupee is trading at 73.60 to the US$.
While there is a legitimate fear about the bleak macro environment along with the liquidity in the NBFC space, we, at Equitymaster believe this fear is being extended too far… to some very strong business.
The chart below shows the recent mood of the market. Headline indices have corrected significantly from their peaks in 2018.
Are These Deep Corrections a Buying Signal?
These corrections are a clear sign of fear across sectors and individual stocks.
So, what should you do in such times? How is all of this going to impact you and your portfolio? In our latest edition of the stock market podcast, Richa Agarwal, the editor of small-cap service Hidden Treasure, talked about buying small cap stocks in this massive correction.
In the news from pharma sector. As per an article in a leading financial daily, Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Fluocinolone Acetonide Topical Oil, 0.01% (Scalp Oil).
It is a generic version of Derma-Smoothe/FS Topical Oil, 0.01% (Scalp Oil), of Hill Dermaceuticals, Inc.
According to IQVIA sales data for the 12-month period ending September 2018, the DermaSmoothe/FS Topical Oil, 0.01% (Scalp Oil) market achieved annual sales of around US$14 million.
Glenmark’s current portfolio consists of 141 products authorized for distribution in the US marketplace and 58 ANDA’s pending approval with the USFDA.
