Still a buyers' mkt; time to reshuffle portfolio: Experts

With the Indian equity market today posting stellar gains backed by largecap stocks and Nifty scaling back the historic highs of 8000, it still remains a buyers’ market believe market experts.Ashwani Gujral of ashwanigujral.com says it is unlikely the market may give any dips, so one must continue buying and by Tuesday, levels of 8300 on the Nifty are also entirely possible. The Nifty ended the May F&O series at 8070, up 134.75 points or 1.7 percent while the Sensex was up 485.51 points or 1.9 percent at 26366.68.

Sudarshan Sukhani of s2analytics.com too agrees with Gujral that is still a buyers markets and believes market is giving clear message that it is going to scale much higher levels. Therefore, it is important to keep positions intact, he says. The immediate upside levels for Nifty are 8300-8400, says Sukhani.He thinks it is also likely that the market may pause, consolidate or even dip but one should not sell. Even the Bank Nifty, which saw a 1000-point rally in two days may consolidate, says Sukhani, so if one did not buy earlier, they must get in when consolidation happens.Hemant Thakural of Aditya Birla Money too believes the upward momentum in the market will conitnue till Tuesday at least.Dipan Mehta, Member of BSE & NSE, says good earnings from different spaces like cement, FMCG, engineering and capital goods companies , electric equipment, chemicals  is giving a wide choice for investors now because in the last few years one has only been buying pharma and FMCG and private sector banks. So, it is time to relook at ones portfolio and see if laggards of yesterday could be the performers of tomorrow.Meanwhile, Krishna Kumar Karwa of Emkay Global says, with heavy weights like L&T and ITC reporting strong earnings, the positive momentum is likely to continue for at least one quarter. Broadly, earnings were decent and even banks that were supposed to be grey area - the worst of earnings over there are getting discounted. So, performance of Nifty is a function of all these broad factors.

Gujral believes that the Bank Nifty may see levels of 17500-17600 soon.Krishna Kumar Karwa of Emkay Global believes the fact that heavy weights like Larsen and Toubro and ITC have reported strong earnings creates a positive momentum, which is likely to continue for at least one quarter. Broadly, earnings were decent and even banks that were supposed to be gray area, the worst of earnings over there are getting discounted. So, way the Nifty has performed, it is a function of all these broad factors.In the same interview, SP Tulsian of sptulsian.com, Dilip Bhat of Prabhudas Lilladher shared their stock specific ideas. For the entire interview, watch video