Nomura likes IT, replaces ICICI with HCL Tech in portfolio
Michael Kurtz of Nomura likes the IT sector for his exposure to US demand growth, tailwinds from a weaker rupee and low exposure to India's sluggish domestic economy.
July 22, 2013 / 10:02 IST
Here are experts’ equity calls for the day on how the market is expected to trade:
Michael Kurtz, Nomura: Asian markets responded positively to strong US data and supportive public comments from Ben Bernanke. Within India, we like the IT sector for its exposure to US demand growth, tailwinds from a weaker rupee and low exposure to India's sluggish domestic economy. We have replaced ICICI Bank with HCL Technologies in our model portfolio.Also Read - Momentum waning; Nifty may see sub 6000 this week: SukhaniMarkus Rosgen, Citigroup: Earnings growth forecasts in Asia are already lower for 2013 than they were last year. Overall, the 11 percent EPS growth for emerging markets (EMs) still looks too high and could move towards 6-8 percent. In India, EPS revisions are beginning to roll over again. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
