On November 11, for continuously the third day the Indian market recorded high and positive numbers.
Some factors which will keep the momentum going:
1. Pharma Rally to continue:
Not just India but the world is hoping for the COVID vaccine.
Experts are of the view that the pharma sectors which has already increased by more than 40 per cent in the calendar year could continue to do well in the near future as well.
This sector is one of the few sectors which in times of covid did not face any difficulty.
After a five-year of not that great performance, the pharma sector is back in action given the widespread COVID-19 pandemic.
2. PLI Scheme:
On November 11 the cabinet approved Production Linked Incentive (PLI) scheme for 10 sectors.
Auto components and automobile sectors have received much more.
3. Green Shoots:
The data is showing that slowly and gradually the economy is getting better but a long way to go.
Sectors like Manufacturing PMI, GST collection, Auto sales number, E- way bill, electricity consumption all are trending higher, showing a strong recovery in economic activities.
New home registrations are seeing a solid pick up across the metros.
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