Benchmark stock market indices were trading lower dragged by the IT stocks. While the Sensex was down 101 points below the 60K mark, the Nifty was seen trading around the 17,900 mark. Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on what to expect from markets going forward.
“Markets have run up very sharply over a short period. There are several triggers which have been supporting the sentiments and may continue to do so over the next leg of the rally including liquidity, retail participation etc.”, he said.
As for the sectors which will outperform in Q2 , he believes, earnings could be good for financials, commodity sector will also be reporting positive earnings.
“Oil and Gas should be on investors’ radar. Consumer discretionary space will also see traction over the next 3-6 months perspective”, he said.
Looking at the power crisis he believes, it may persist for some time and in the interim, one can look at Coal India as it will be the biggest beneficiary. There could be another 20-25% upside for the stock.
SBI | Buy | Target: 550 | Duration: 6 months
RIL | Buy | Target: 3000 | Duration: 6 months
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