The market currently is discovering new stories to take it up but banking will continue to be the driving force. "The stock market theory is rested on the banking sector and no other sector is likely to take it up,†says Ajay Srivastava.
Global risk off sentiment engulfed markets owing to political uncertainty in Greece and global crude oil prices slipping to multi-year lows. But this is temporary, agree both global and domestic investors
Bhatt says while the steep fall in crude prices is hurting sentiment internationally, India‘s macro fundamentals appear sound
Shares of DLF was the top gainer on Nifty, up 3.46 percent followed by Jindal Steel, Tech Mahindra, HCL Technologies, HDFC, Sesa Sterlite and TCS with 1-2 percent gains.
Bhatt sees 7900 as a strong support level for the Nifty. He expects shares of cement and engineering companies to be good buying opportunities post-Budget.
UR Bhatt, MD, Dalton Advisors says, in an interview to CNBC-TV18, that he expects the Nifty to trade in the 5800-6100 range and advises investors to bet on select pharmaceuticals, private banks and the FMCG segment.
UR Bhat, MD, Dalton Capital Advisors, says that the market is eyeing the upcoming Budget for action. If the Budget is prudent then the Nifty will touch 6200 levels.
UR Bhatt of Dalton Capital Advisors says that the positive inflow from FIIS has lent confidence that the aggressive selling could finally be over. But market is likely to remain range-bound, he says.