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After 5 days of decline, the market has seen a bounce back today. At the end of trading, the Sensex closed at 57,037 with a gain of 574 points. At the same time, Nifty closed at 17,136 with a gain of 177 points .
Bullish trend was there in the shares of tea companies. On Wednesday, shares of five of the top six tea companies saw good gains. The shares of these companies have given returns of up to 28% in the last one month. Actually, there is an opportunity to increase exports for Indian tea companies from the Sri Lanka Crisis. The government is also supporting it. Therefore, the shares of these companies are showing a rise.
McLeod Russell's stock has given 15.57% return in one month. On Wednesday too, there was a rise in this stock. The price of this share was up by 2.53% at Rs 26.35. The stock of Jai Shree Tea and Industries has gained 22% in the last one month. On Wednesday, the share price was Rs 114.90, up 3.42%. The stock of Tata Consumer Products has given a return of 8.18% in the last one month but today the price of this stock was up by 2.27 to Rs 809.20.
After a long slowdown, the pharma sector saw a recovery in 2020 after the out break of Covid-19. But recently, the market sentiment has deteriorated, as well as pressure has been seen on this sector. The recent correction has provided an opportunity for fund managers to buy into select pharma stocks. The pharma sector valuations are currently looking very high which is the main reason for not making money in the short term but from the long term perspective these growth valuations look good. You can choose the Pharma sector for long term investment.