As Indian equity indices, Sensex and Nifty trade lower dragged by selling banking and financial stocks, experts see the phase of consolidation to continue.
Rahul Shah of Motilal Oswal Financial Services said, “Indian markets are reflecting the trends globally. We have been looking at positive indications on Covid, vaccination front but the major triggers for the markets will flow in from Q1 earnings.”
He believes that for the next 8-10 days, markets may stay range-bound. The space he says will continue to buzz globally is commodities that will continue to do well.
“Pharma as a sector is something I am very bullish on. It is not be invested just for 2-3 years but for a fairly long term to see the best returns. Governments are increasing spending higher on healthcare. In the near term, companies directly linked with vaccines will benefit more. I prefer large caps like Cipla, Dr Reddys, Divis Lab and Glenmark and Cadila in the midcaps for the long term.”
Stock Recommendations
ONGC | Buy | Target: 165 | Duration: 6 months
Tata Steel | Buy | Target: 1,500 | Duration: 6 months
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