The real trend of where the market will go will be known in first week of May, said market veteran Anand Tandon.
The latest analysis and commentary by stock market expert Anand Tandon on what is moving the markets and some of his top stock/sector recommendations.
Tandon said it was expected that in the last week of this month, all the mutual funds and financial institutions would be out in full force to ensure that year on year (YoY) there is an NAV growth and so, the large part of buying seen in the market could be coming from there. So the market may look good today and tomorrow.
The Indian equity market today gained for a second day in a row. The Nifty ended half a percent higher, while the Sensex clocked a 100-point gain.
The BSE Sensex ended the day at 33,174.30 and 50-share Nifty ended at 10,184.20.
However, the real trend of where the market will go will be known in first week of May, he said.
From the metal space, he said the steel sector is expected to do well this quarter and likes JSPL from the sector.The most non-controversial ones in the construction space are Dilip Buildcon and KNR Construction on back of good orderbook, a reasonably decent balance sheet, said Tandon. The only thing one must be aware of is that orderbook does not necessarily translate into fast execution. So, those companies that have performed well in terms of execution should be selected.