With Budget round the corner, market might take a breather now, says Nitin Jain, Principle Investment Manager at Kotak UK. He believes there will be continued support from domestic funds on dips.
Some analysts believe that the market's negative reaction to recent events in the IT space may be overdone.
The first quarter earnings season has not been somewhat weak compared to expectations but the market had run ahead pricing in an immediate recovery, says Nitin Jain of Kotak UK.
Even as the market may continue to consolidate for a little more while, investors should use this time to “build a quality portfolioâ€, Nitin Jain, principal investment manager at Kotak UK, told CNBC-TV18.
Nitin Jain, principle investment manager, Kotak UK says some FIIs booked profits in the last few days. He has been buying the Indian market and is bullish on the banking sector for 2015.