According to Pankaj Murarka, Axis Asset Management it is difficult to predict short-term movements of the market but outlook for equities remains positive.
Taher Badshah, Motilal Oswal AMC, Siddarth Bhamre of Angel Broking and Pankaj Murarka, Axis Asset Management in an interview to CNBC-TV18 shared their views on the outlook for market and sector/stock specific ideas going forward.
According to Murarka it is difficult to predict short-term movements of the market but outlook for equities remains positive. One must use dips to increase exposure to equities, he says. Gains from equities this year could surely match the gains of last year, he adds
The India story from a global perspective is still very promising in the medium-term but global markets also are a big risk for India because any collateral damage in global markets could be contagion risk for India, says Murarka.
Badsha too believes volatility in European market is sure to induce volatility in Indian market but could be favourable for India as such.
Bhamre says, he would avoid going long or short in the market at current juncture.
Answering a query on his expectations from the Budget, Muraka says it would be relevant in terms of a fiscal consolidation road map that will be laid down by the government. The document does signal the intent of the government but execution would also be key. The Budget per se may influence the market for a day or two but on a broader perspective execution would be more important.
Sector specific, Badshah thinks FMCG numbers may stack up well for the quarter. Rate sensitives would be prominent in their performance in the next 3-6 months and PSU banks could see more gains compared to private sector banks, says Badshah. However, IT would take a back seat for now, he adds.
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