Auto sector is witnessing revenge buying: Vinit Bolinjkar

Among sectors seeing traction today, Bolinjkar believes energy stocks are in focus and Coal India in that theme will be an important stock to track

  • Publish Date - September 15, 2021 / 01:53 PM IST


Equity benchmarks Sensex and Nifty50 scaled new peaks on Wednesday, shrugging off weakness in global markets led by gains led by IT, oil & gas, consumer and PSU banking stocks pushed the market higher. Broader markets were seen to be outperforming the headline indices. Vinit Bolinjkar of Ventura Securities spoke to Money9 to share insights on markets.

“It is a mystery as to how long will the market rally continue. The Dow jumped 10x in a decade which was a structural bull run and one can see similarities in India as despite the pandemic, weak macro data, the economy is seeing a U-shaped recovery, the government is introducing strong reforms like the PLI scheme now which is going to be a remarkable step for several industries, so overall despite the near term volatility the rally is being backed by a lot of factors”, he said.

Among sectors seeing traction today, Bolinjkar believes energy stocks are in focus and Coal India in that theme will be an important stock to track. In the auto space he believes one is seeing revenge buying after the underperformance and believes that the worst of the issues with semi conductor shortage is behind us in Q2.

On the newly listed stocks Ami Organics and Vijaya Diagnostics, he believes Vijaya can play a strong long term growth story.

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