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Financials will lead the market rally: Rahul Shah, MOFSL

Financials will lead the rally from here on and both public sector and private sector banks will participate

The Indian benchmark share indices continued to build on gains and hovered near all time high levels in the afternoon trade. The S&P BSE Sensex climbed 180 points to around 53,050 levels and the Nifty50 index was seen testing the 15,900-mark. Sectoral indices on the NSE were mixed, with Nifty Bank rising 1.2%. In the broader markets, the S&P BSE MidCap and SmallCap added 0.93% and 0.67% respectively. Rahul Shah of the Motilal Oswal Financial Services shared insights with Money9 and said, "Financials will lead the rally from here on and both public sector and private sector banks will participate. This is where investors should look for opportunities." On the unlock theme which is seeing momentum currently, what looks promising to him he said, "Retail and autos look attractive. I prefer Aditya Birla Fashion Retail and in autos its the passenger vehicle majors Maruti and Tata Motors." "I would still avoid aviation stocks for now as the headwinds of crude prices at 3-year high is a concern."

Stock Recommendations

Grasim Industries | Buy | Target: 1800 | Duration: 6 months SBI | Buy | Target: 580 | Duration: 6 months  


The Indian benchmark share indices continued to build on gains and hovered near all time high levels in the afternoon trade. The S&P BSE Sensex climbed 180 points to around 53,050 levels and the Nifty50 index was seen testing the 15,900-mark. Sectoral indices on the NSE were mixed, with Nifty Bank rising 1.2%. In the broader markets, the S&P BSE MidCap and SmallCap added 0.93% and 0.67% respectively.

Rahul Shah of the Motilal Oswal Financial Services shared insights with Money9 and said, “Financials will lead the rally from here on and both public sector and private sector banks will participate. This is where investors should look for opportunities.”

On the unlock theme which is seeing momentum currently, what looks promising to him he said, “Retail and autos look attractive. I prefer Aditya Birla Fashion Retail and in autos its the passenger vehicle majors Maruti and Tata Motors.”

“I would still avoid aviation stocks for now as the headwinds of crude prices at 3-year high is a concern.”

Stock Recommendations

Grasim Industries | Buy | Target: 1800 | Duration: 6 months

SBI | Buy | Target: 580 | Duration: 6 months

 

Published: July 6, 2021, 14:14 IST

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