Domestic equity market benchmarks Sensex and Nifty were trading with losses in early trade after opening with a gap up. While the Sensex was trading below 61,000,the Nifty was trading well below 18,100 mark. Except banks, all the other sectoral indices slipped into the red with Realty, IT and Auto sectors seeing maximum cut. Broader markets felt the maximum hit and were trading over 1.5% lower. Lovelesh Sharma from Finversify spoke to Money9 on what to expect from markets going forward.
“This is not the market one should do passive trading. Pick select stocks where there is momentum, good techno fundamentals. Nifty bank definitely looks stronger, in case one needs to trade the index”, he said.
While ICICI Bank stock has shot up over 8% post strong earnings, one must wait to let the news be absorbed before taking bets at these levels.
Axis Bank | Buy | Target: 865 | SL: 810
JSW Energy | Buy | Target: 420 | SL 363
(Follow Money9 for latest Personal finance stories and Market Updates)
One of the trends that got accentuated during the pandemic was stays at small properties of five to 10 rooms in picturesque locations
In India, the segment of ETFs is slowly taking off and several mutual fund houses are offering ETFs to investors.
The NIP will help augment India’s productive capacity, contribute to our overall growth and bring down the logistics costs, improving competitiveness
Diversification is key and should be followed for stable and steady returns in the long run.