Nifty Pharma one the most hated sector in this bull market for a variety of reasons. The number one reason is negative returns since Apr 2015. Till now index had lost a maximum of 42.28% from its peak. Which is very close to the drawdown during the 2008-2009 crisis period. During 2008-2009 economic crisis period Nifty Pharma had made an extreme drawdown of 44% from its peak.
Nifty PSU Bank Index is currently trading around 3424 broken the low made on Bank Recapitalization announcement. Finance minister Arun Jaitley had in October announced an unprecedented Rs2.11 trillion PSU bank recapitalisation plan. On that day Nifty PSU Bank index soared 24% intraday led by gains in State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda, Bank of India and Union Bank.