Despite global volatility, the Indian market has showed tremendous resilience so far, says Sanjiv Bhasin, Executive VP-Mkts & Corporate Affairs, IIFL but with eyes on Bank of Japan and US Federal Reserve decisions, market is likely to be volatile for a few days.
According to him Fed is unlikely to hike this time but would signal two rate hikes. One would likely happen in December and one later in 2017. However, Bank of Japan would remain status quo, he says.
Talking about themes for the future, he says banks and consumptions should be the themes going forward. Consumption has been the main theme that has played out well over the last one year, mainly on back of lower oil and other commodity prices.
When asked his view on Maruti, if yen strengthens post BoJ meet, he says one should be cautious on the stock because it could hit its revenues. If yen strengthens then the stock could see a 5-7 percent correction.
Talking on Jubilant Foodworks and impact of CEO Ajay Kaul’s exit, he says he is cautious and advices exiting the stock on any rallies. The house he says has been negative on the stock for a year now on back of poor performance from Dunkin Donuts.
He recommends buying FMCG, especially Marico and United Spirits and also like NBCC as a best government play with its focus on tier I and tier II cities.
Ashish Kyal, Founder & CEO, wavesstrategy.com also shared his stock specific views.
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