Markets to remain rangebound up to elections: Axis Capital

Here are some of expert views on how the equity market is expected to behave in the near term:

Neelkanth Mishra, Credit Suisse said that, "We continue to believe that the investment cycle is unlikely to recover for a few years, and this rally in industrials, financials & metals provides an opportunity to trim. We remain overweight on IT, Energy, Staples & Healthcare. We have a buy on HCL Tech, Wipro, Reliance & ITC. December quarter results are likely to be the reverse from September quarter with several indicators disappointing."

Nandan Chakraborty, Axis Capital said that, "Markets likely to be rangebound up to the elections, driven by growth & electoral anxiety. Our portfolio stance up to elections will be largely defensive & stock-specific, with calibrated allocation across the risk spectrum from rural & export themes, stable growth companies, and sectors that can benefit the most & earliest from any improvement in sentiment."