Moneycontrol Bureau11:45 am Market views: Krishna Kumar, investment director of Eastspring Investments and began by asking him what he thinks of the year gone by.
Kumar said that China which kicked off measures to root out black money in 2014 took three years to complete it.
Talking about GST, he mentioned that it is an equally disruptive measure, which will see a lot of informal business coming into the formal fold.
The dollar trade is turning out to be a consensus trade. It is a safe haven trade and the key point is investors are reluctant to buy country funds. They want to look at broad-based investing styles, he mentioned.
11:30 am Market outlook: Market expert, Nilesh Shah of Kotak Mahindra AMC, said there could be many events impacting the market – issues like US yields rising, short-term demonetisation pain impacting consumption and SMEs etc. It is very difficult to gauge the bottom levels for the market but it has become more of a stock-specific market than sector-specific, said Shah, so if you get stocks at your prices then it is a good opportunity to buy. “At every price there are stocks to buy and stocks to sell,” he said. According to him, market will not decline, forever, so it is time to accumulate stocks that you always wanted to have in the portfolio. It is a pendulum market, so look for companies with good management, good governance.Don't miss: Divis at 28-month low on regulatory woes; stock not de-rated yet
The market is still under pressure as the Nifty struggles below 7950. The 50-share index is down 64.40 points or 0.8 percent at 7921.35 and the Sensex is down 195.60 points or 0.7 percent at 25845.10.
Lupin, Dr Reddy's Labs, Maruti and Reliance are top gainers while Cipla, Axis Bank, Tata Steel, Coal India and BHEL are losers in the Sensex.
With the overall environment not looking good, only the upcoming Budget can bring some cheer to the market, believes UR Bhat, director of Dalton Capital Advisors. Bhat said that market has to find a new low from here. Some positive commentary from the government is needed to bring cheer to market.
IT and automobile are the sectors to hide in at this time, Bhat said. Any bet on banks can be taken after December quarter results only.
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