Mkt downside capped between 7800-8000; like cement: SBICap

Mahantesh Sabarad, Deputy Vice President - Research at SBICap Securities is of the view that although the downside for the market currently seems to be capped at 7800-8000 levels, the upside would depend on earnings upgrades, adding that earnings are likely to be upgraded only after the December quarter. However, the downside is not necessarily protected at current levels and market could go down depending on current quarter earnings. So earnings growth remains a key factor for upside. Sector specific, he thinks sectors construction and cement, which are poised to do well. Construction has seen activity in terms of road building which will see easing of debt burden for some companies and will strenghen their order book -- companies like Ashoka Buildcon. Amongst the cement companies, he would prefer regional players that are exposed to central and eastern parts of the country compared to largecap names. He likes Heidelberg from that space. for more on his other stock specific ides watch video.