IT, banks and auto sectors should be on top of investors radar: Kranthi Bathini

Sensex, Nifty touched all-time highs on Thursday. The Sensex rose 0.62% to 53,234.01, while Nifty reached a new high of 15,945 on the back of positive global sentiments and better than expected results from the IT sector. Among the sectors, the capital goods index added over 2% while the small-cap index hit fresh record high.

Kranthi Bathini of Wealthmills Securities spoke to Money9 and said, “Buying interest returning to markets. Traders should still be cautious. Investors can create positions in quality stocks on the back of positive earnings.”

The factors working well for the markets include the lower Covid cases, ebbing second wave and no signs yet of the third wave and positive monsoon spread, he said.

On preferred sectors, he mentioned that IT, Banks and Auto sectors should be on top of investors radar. Amid IT apart from the large-caps, there will be a multiplier impact on mid caps too. He mentioned that Quick Heal Technologies as recommended on Money9 earlier has already run up 93% from the levels recommended. He still has a buy on dips call on the same.

On his new recommendation, he believes one can look at buying L&T Finance Holdings at the current level for an upside of 25% over the next one year.