According to Taher Badshah the market could find it tough to make gains going forward until there is news on reform front or there are some other triggers, and till then earnings could remain a bit concentrated.
Jagdish Malkani, member, BSE & NSE says investors should be wary on the midcap space.
Sun Pharma, SBI, Axis Bank, Tata Power and GAIL are top gainers in the Sensex. Among the losers are Coal India, Bharti Airtel, Sesa Sterlite, Hindalco and Tata Steel. Rashtriya Chemicals, ABG Shipyard, Prism Cement, Hexaware Tech and Jyothy Labs are major gainers in the midcap segment.
Dipan Mehta, member of BSE and NSE expects banks to outperform IT over the next 3-4 months by a huge margin on the back of the good results reported by a whole host of them. "Banks are seeing a lot of levers to propel earnings growth," he says.
Dipen Sheth of HDFC Securities believes the midcap space has a lot of talented companies that can be invested into right now.
In an interview to CNBC-TV18, Siddarth Bhamre, Head - Investment Advisory and Derivatives, Angel Broking says traders shouldn't short this matket as it still has some steam left.
In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com says the markets may correct but that level is known, which is more important.
Today‘s fall could be termed more of a consolidation than correction, says independent market expert Ambareesh Baliga. However, he expects market to crack the levels of 7850-7900 going forward.
Global cues are mixed with the US markets closing mixed with Nasdaq slipping to a one-month low, as investors booked profits ahead of the crucial two-day FOMC meeting that begins today.
Sandip Sabharwal believes largecaps are dicey in the short-term and that midcaps are way ahead of its fundamentals.
High beta cyclicals along with midcaps from the IT, auto and pharma space may take a beating in the short-term, says Gaurav Mehta of Ambit Capital.
The Indian market has been moving higher on positive domestic developments; other emerging markets have done well because of strong global inflows, but given the global cues one could see a tactical correction in emerging markets, Jyotivardhan Jaipuria, Head of Research, BofA ML says.
Rathi says while frontline indices like Nifty and Sensex are up 30 percent from their 2008 peaks, the mid-cap index is still flat and the small cap index is 25 percent below its previous peak
Economic growth going ahead will be dependent on government‘s reforms ahead, Jim Walker, MD, Asianomics said.
CLSA believes that the re-rating in the midcaps will continue. CNBC-TV18's Reema Tendulkar analyses their portfolio changes and top midcap picks.
Manish Sonthalia, Motilal Oswal AMC says, â€œMarkets are all about rate of change.â€ In an interview with CNBC-TV18, he says midcaps will outperform for a year and a half. Thereafter, it will be an earnings-led growth that has not been discounted by the market yet.
Manish Chokhani, director, Enam Holdings says that global interest rates won‘t rise in a rush.
On the global front, liquidity continues to be strong and volatility is low. Good news from the European Central Bank (ECB) in terms of rates can cheer global markets, CNBC-TV18‘s Udayan Mukherjee says.
In an interview to CNBC-TV18's Menaka Doshi and Anuj Singhal, Gautam Trivedi, Managing Director & Head of Equities, Religare Capital Markets spoke about investor sentiment at the brokerage house‘s annual summit and his outlook on the market.
Nifty has now a very defined band 7850 to 8000, this is 150 points band and it should be respected up until the expiry.
According to Vikas Khemani of Edelweiss Financial Services India is an attractive market on all parameters and will continue to see FII flows.
The rally in equities has been driven by foreign institutional investors, who have pumped in USD 852.10 million or Rs. 5,200 crore year-to-date.
Speaking to CNBC-TV18, Udayan Mukherjee says that the trade is beginning to catch on now. However, this is not the time to chunk out high quality from the portfolio just yet, he adds.
Dipen Sheth, head- institutional research, HDFC Securities says PSU stocks provide a lot of value creation oppurtunities.
If the market forms a range of 5,950-6,300 in the next few weeks then midcaps and interesting largecaps will be the place to be in, Udayan Mukherjee said.