After opening in the green, benchmark indices continued to gain momentum. While the Sensex was up 434 points or 0.71% to 61,171, the Nifty advanced 150 points or 0.82% to 18,311. Wipro was the biggest gainer followed by Adani Ports, L&T, Grasim Industries, SBI, Indian Oil, ITC, HDFC Bank etc. Tata Motors, TCS, IndusInd Bank, Kotak Mahindra Bank, Bajaj Finance and HDFC Life Insurance were among those that traded lower. Kranthi Bathini of Wealthmills Securities spoke to Money9 on what to expect from markets going forward.
“The markets have been on a wild run but seldom have we seen such vertical moves sustain so investors need to be very cautious at this time and know exactly which stocks are they invested in”, he said.
He believes that earnings in IT have been good and the outlook by management is intact. One needs to see how other sectors follow. He believes that in the current markets, we can see a lot of euphoria also so ‘cash is king’.
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