Auto stocks remained in focus as companies prepare to announce their September sales report card. At 11 am, the market was looking weak. The Sensex came off sharply from its morning highs and was trading only 0.08 percent higher at 26176.80. The Nifty lost its initial proximity to the 8000 level and precariously clung to 7939.50.
Independent market expert Ratnesh Kumar continues to remain positive on the IT sector, but says pharma as a whole is valuation-wise expensive. He is underweight on the auto-ancillary space and believes it is perhaps done with its best phase
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