homemarket NewsAtul Suri remains bullish on India despite lack of market euphoria, identifies key sectors at lifetime highs
Atul Suri remains bullish on India despite lack of market euphoria, identifies key sectors at lifetime highs
On top sectors to look out for, market watcher Atul Suri said that electrical equipment space, defence, hotel and auto stocks are the sectors that are leading things ahead and are all at life-time highs
Atul Suri, the CEO of Marathon Trends PMS, remains bullish on India despite the absence of market euphoria at current levels. In an interview with CNBC-TV18 on Tuesday, the market expert expressed confidence in the Indian stock market outlook, likening it to a rocket with ample fuel for another level of growth.
Suri highlighted key sectors that are leading the way and reaching all-time highs, including electrical equipment, defence, hotels, and auto stocks. "These are the leadership thematic or the trends that are played out," Suri noted.
According to Suri, the electrical equipment space is the most significant trend being played out, followed by the defence sector, which has consistently achieved lifetime highs and has an overweight position in his portfolio. He also emphasised the positive performance of hotel stocks, which have recently broken out to new highs after a period of consolidation.
Additionally, Suri noted the strong performance of auto ancillaries within the automotive sector. Suri added that one needs to look at markets more thematically.
"We may have time-wise corrections, but the important part is these are the times to really deploy," he said, adding that PSU index, including PSU banks, defence, energy, is the only sector that is consistently making new highs.
Meanwhile, domestic equities are trading in negative on Tuesday, as HDFC twins weighed on the key indices, and ahead of key Q4 earnings data due today. Sectorally, the PSU Bank index jumped 0.92 per cent, followed by the realty index rising 0.72 per cent, while the IT index gained 0.63 per cent. On the other hand, the media index slumped 1.14 per cent, and the Nifty Financial Services index was down 0.28 per cent, at the time of writing.
First Published: May 16, 2023 12:34 PM IST
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