Consolidation in market would continue with negative bias: UR Bhat

In an interview to CNBC-TV18, UR Bhat, Director of Dalton Capital Advisors discussed fundamentals of the market.

Consolidation in the market would continue with the negative bias because news flow may not exactly be conducive for the market to breakout of 10,000 range in the short-term, he said.

Expect one more interest rate cut and that is somewhat factored in, he added.

He doesn’t see any reason why the market should breakout above 10,000 in a great hurry.

One needs to invest in sectors and stocks like auto, private sector banks, non-banking financial companies (NBFCs), telecom, IT, said Bhat.

For full interview, watch accompanying video...