Pharma and PSU banks may surprise the street: Mehul Kothari, Anand Rathi

After witnessing profit-taking last week, global markets slipped on worries over US growth concern, China power crisis and high oil price, Indian stock markets opened with a gap-up on Monday. While the Sensex surged over 500 points in early trade, Nifty50 climbed to 17,650 led by financial, pharma shares. Mehul Kothari of Anand Rathi spoke to Money9 on what to expect from markets going forward.

Broader markets also supported the gains with the midcap and smallcap indices rising around 1% each in early deals.

“It is still a ‘buy on dips’ market as there is a broad based buying across sectors, however I expect Pharma and PSU Banks to surprise and take the lead this week”, he said.

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