Markets will continue to consolidate going forward: Rahul Shah, MOFSL

Domestic equity market benchmarks edged higher on Tuesday tracking firm cues from global peers. BSE Sensex was hovering near 55,800, while the Nifty 50 index crossed 16,550 at half time. Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on how the markets will fare going forward. "Inflation moving higher and the tapering concerns are worrying the markets. In India, the dips are being seen in broader markets, while the Nifty is still stable. there is a shift of investors to large caps, secondly the IPO markets have raised Rs 70,000 crores so far, so the money is moving from secondary markets to the primary markets", he said. He believes among sectors, select FMCG companies look positive, while pharma stocks need to be taken on an individual basis. "Like Marico, Nestle in FMCG while Divi's Labs and Laurus Labs are preferred bets in the pharma and healthcare space", he added.

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