Moneycontrol
Nov 16, 2017 04:44 PM IST

Volatility in market to continue till Gujarat elections; be stock specific: Expert

Prakash Diwan Altamount Capital Management said till we are closer to Gujarat elections, we will have volatility in the market, which could lead to a sector churn.

CNBC TV18 @moneycontrolcom

After a three-day losing streak, the bulls were back in action. The Sensex gained 340 points to close at 33,106.82 and the 50-share NSE Nifty rose 96.80 points or 0.96 percent to 10,214.80.

Technology, banking, metal and energy stocks posted a smart rally.

Ashwani Gujral ashwanigujral.com said if both IT and banks participate in the rally then even a new high for the market is quite possible.

PSU banks seem to be beginning the next leg of the rally, said Gujral and chances are that these banks could participate again in the Bank Nifty rally that happens from here on.

Prakash Diwan Altamount Capital Management said till we are closer to Gujarat elections, we will have volatility in the market, which could lead to a sector churn. He does not think the market has made a bottom or high, it is still work in progress. So better to have a stock specific approach.

Deven Choksey MD KRChoksey Investment Managers talking about the earnings season said by and large it has been good and with a good amount of promise. The earnings growth in Q3 and future quarters is likely to be higher or in double-digits at least in some spaces like consumer finance, automobile, commodity etc.

In the same interview, Prakash Gaba of prakashgaba.com and SP Tulsian of sptulsian.com also shared his stock specific views.

The experts also shared their view on the listing of 5Paisa.com, IT rally and answered some stock related twitter queries.
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