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Weakening Rupee turns investors towards the defensive


The stocks back into the highlight are information tech and pharma owing to the weakening of rs thereby making investors to rely on these defensive stocks , the tensions of Iraq  and poor monsoon forecast looming large and not to forget the current account deficit (CAD) and fiscal deficits .As the great fortune of exporters in technology and pharma are directly proportionate to the momentum of the currency .IT index of BSE has increased by 8% while BSE pharma index has rallied 12% thereby outperforming the BSE sensex benchmark which was around 2.25 during the same time frame .The new govt is focusing on the heathcare and newer drugs to be launched with new mergers and acquisition around the corner ,So its a good sign to bet on .