Broader markets could see more sell-off: Rahul Shah, MOFSL

Large-caps are now leading the rally and broader markets are seeing profit booking

Domestic equities were volatile on Tuesday tracking weakness in Asian markets and stretched valuations back home. The headline S&P BSE Sensex was down 120 points at 55,450 levels while the Nifty50 index lost 45 points but held 16,500 mark. Both the indices hit new all-time highs of 55,688.5 and 16,591 levels, respectively. Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on the way forward for the markets ahead. "Large-caps are now leading the rally and broader markets are seeing profit booking and because the midcap sector looks over-heated, there could be more sell-off. Money moving to primary markets, disappointing earnings in broader space and over-valuations are all big worries for the markets currently"

Stock Recommendations

Zensar Technologies| Buy | Target: 560 | Duration: 6 months Hindalco | Buy | Target: 550 | Duration: 6 months


Domestic equities were volatile on Tuesday tracking weakness in Asian markets and stretched valuations back home. The headline S&P BSE Sensex was down 120 points at 55,450 levels while the Nifty50 index lost 45 points but held 16,500 mark. Both the indices hit new all-time highs of 55,688.5 and 16,591 levels, respectively. Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on the way forward for the markets ahead.

“Large-caps are now leading the rally and broader markets are seeing profit booking and because the midcap sector looks over-heated, there could be more sell-off. Money moving to primary markets, disappointing earnings in broader space and over-valuations are all big worries for the markets currently”

Stock Recommendations

Zensar Technologies| Buy | Target: 560 | Duration: 6 months

Hindalco | Buy | Target: 550 | Duration: 6 months

Published: August 17, 2021, 15:04 IST
Exit mobile version