Moneycontrol
Mar 17, 2017 04:29 PM IST | Source: CNBC-TV18

Market may have peaked for now; fresh triggers awaited: Gujral

Anand Tandon, a Market Analyst, said the market trend will remain upwards as long as the global markets remain bullish. The local market bull rally, is not exceptional, when compared to other emerging markets. he added.

The bull run may have run out of steam for now, said Ashwani Gujral of ashwanigujral.com. Market may consolidate for a few weeks till there are fresh triggers to take it higher, he said.

"While the Nifty may cap at 9,220 points, it's lower limit is yet to be determined. My sense is it would be around 9,050-9070 points," he said.

He expects large cap stocks to be stagnate, while midcap stocks could gain some more.

"Money is not going into the right stocks. SBI, and some other PSU banks are still cheap. But they are not showing any action," he said.

However, Anand Tandon, a market analyst, said the market trend will remain upwards as long as the global markets remain bullish. The rally in Indian shares is not exceptional, when compared to other emerging markets. he added.

While benchmark indices closed with small gains, FIIs continued to be heavy buyers. The Sensex closed 63 points higher at 29,648, Nifty ended the week above 9,150 for the very first time.

With the GST inching closer to reality, the logistics sector has become very attractive, said Deepak Shenoy of Capitalmind.in. With GST's implementation, many logistics companies will become more profitable as a result of better margins.

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