Key positive was capping the overall fiscal deficit at 3.4 percent (in FY19 and FY20) despite generous spending
According to Pankaj Pandey of ICICI Direct, if corporate earnings and economic recovery do not pan out as expected, we will continue to see volatility ridden market next year.
We like FMCG, autos, private banks, telecom & cement sector. We remain negative on capital intensive sectors like PSU banks, capital goods & infra, power, metals & real estate, says Pankaj Pandey of ICICI Direct.
Pankaj Pandey of ICICI Direct stock picks for 2013 are TCS, Tata Motors, Tech Mahindra. In the mibcap space, Balkrishna Industries, Info Edge, and Page Industries.