Market likely to see further gains in coming months: CLSA

Laurence Balanco, CLSA says relative to the regional benchmark, India continues to work its way higher following the breakout form the 2010-2013 downtrend channel.

“Further relative gains are likely in the coming months. Technically strong stocks in India include names like Infosys, ICICI Bank, Axis Bank, ONGC and Apollo Hospitals,” he adds.

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Viktor Shvets, Macquarie says emerging market equities are coming towards the tail-end of the rally as most indicators are turning less supportive. “We will watch currencies moves and cost of capital closely. In our view, Eurozone is deeply embedded in deflation and recent ECB moves are likely to increase volatilitym” he adds.