Anand Tandon of JRG Securities told CNBC-TV18, "One has seen a huge move up on the banks yesterday and we have seen a little bit of a give up there. The give up should continue for a little bit longer on the banking sector."
He further added, "The overall positioning of the portfolio has to move away from the domestic consumers to more export oriented even though that seems to be a theme which has played out. The rupee also has strengthen quite considerably from where it was at 68 and now maybe around 60-61. But I still think that the fall which has happened since 55 is more than enough to give one a cushion in terms of earnings for most of the export companies." "Most portfolios tend to focus only on IT and pharma. I am suggesting that we look at things like textile and auto ancillaries a little bit more especially auto ancillaries, which have more export portfolio, because they are likely to continue to do reasonably well there." "The only domestic sector which I find myself bullish on is the power generation sector and the related financial institutions which are giving money to power utilities and to the sector as a whole. For most part the domestic consumption story is now completely played out and one should be significantly underweight on that."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
