InCred cuts Nifty50 blended index target to 25,327, upgrades pharma to overweight

InCred Equities cut Nifty50 target to 25,327, expecting a correction phase. The brokerage upgraded its stance on pharma stocks like Cipla, Ipca, and Alkem Laboratories. The IT, capital goods, and pharma sectors outperformed during the recent correction. The overall market sentiment remains cautious due to weak macroeconomic conditions and potential EPS downgrades.