Vinod Nair, Head of Research, Geojit Financial Services:
Market turned positive due to buoyancy from telecom stocks supported by tariff hike plans. Positive vibes also witnessed in PSU banks having exposure to distressed assets. Gains in Pharma, energy and infra stocks pushed markets higher while losses in Auto, metals and consumer stocks limited the gain. Fear of downgrade in FY20 earnings due to slow pace in consumption demand and industrial growth may consolidate the market in the near term.