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“In the good times when world equities were doing well, India did not participate and now as world markets are turning weak and wobbly, India is again turning out to be an underperformer. It is going to get a lot worse before it gets better. The next stop is around the Budget day low of around 17,350 but the chances of even that getting broken are pretty high.”

"I would be very bullish on Siemens. The kind of order-booking that Siemens has been seeing across the spectrum is commendable. For me, this would be my top idea in the capitak goods space. Aming banks, I would be more positive on ICICI Bank and Axis Bank. In the midcap space, I am extremely bullish on Bandhan Bank. "

The Relative Strength Index of the stock stood at 54.81 on Thursday.

US Federal Reserve officials in their most recent Federal Open Market Committee (FOMC) meeting on February 1 indicated that there are signs inflation is coming down but not enough to counter the need for more interest rate hikes," Mitul Shah, Head of Research - Institutional Desk at Reliance Securities.

Uncertainties over a sharp sell-off in conglomerate Adani Group shares, after a critical report by U.S. short-seller Hindenburg Research, have contributed to capital outflows from the Mumbai market.

“Historically, for the last three years, the returns are really good. They are as high as 20 to 24%. But over the long term, policyholders can expect about 12-14% returns in the long term although if you look at the returns, even in the seven-year category, they are as high as 17, 18% as well. But typically, one can expect a 12-14% return.”

The stock quoted a 52-week high of Rs 6520.0 and a 52-week low of Rs 3733.25.

Biocon, incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 26389.19 Crore) operating in Pharmaceuticals sector.

Foreign investors as well as large domestic investors have been mostly bullish on sectors with high domestic exposure like banks, autos, and cement. "We also like the pharma sector given its defensive qualities amid the slowing global economy and have started to become positive on consumption related names after the significant correction," Credit Suisse.

Prominent names in the list include Adani Enterprises, Tata Motors, Ashok Leyland, PVR, Sterlite Technologies, CEAT, Lemon Tree Hotels, Varroc Engineering, and Thomas Cook (India).