Expect market to deliver 15-18% returns every year, bullish on banks: Edelweiss

Bulls continued to keep tight control over Dalal Street on Tuesday as the Nifty touched psychological 9,300-mark for the first time ever, driven by global cues.

The result of the first round of the French election was positive for the market, said Vikas Khemani of Edelweiss Securities. Earnings season has also been good so far, he added.

He believes the market rally is going to stay for next 3-5 years.

According to Khemani, however, only changes at political level can derail market rally. He expects market to deliver 15-18 percent returns every year.

The Nifty rallied nearly 14 percent in current calendar year 2017 while the broader markets outperformed benchmarks, with the BSE Midcap rising nearly 22 percent and Smallcap up more than 27 percent.

Major drivers for the market rally were liquidity, state elections results, stable earnings despite demonetisation and global cues.

Khemani is bullish on banking & financial, infra and domestic growth oriented stocks.