Positive on private banks, pharma, autos and select largecap IT stocks: Vikas Jain, Reliance Securities

The pharma sector has outperformed and gained 2 per cent month on month compared to a fall of 4 per cent in Nifty50. We believe the positive trend will continue as it has started showing outperformance after a long time as the USFDA issues and announcements are minor in nature with respect to the plant observations. As the rupee weakness, export revenues are expected to increase and new product launches in domestic formulations, US branded generics will drive growth.