Deal momentum to keep IT in focus; watch out for crude: DSP Investment
The market is taking a breather after a long rally, said Vinit Sambre, head-equities at DSP Investment Managers.
The market is taking a breather after a long rally, said Vinit Sambre, head-equities at DSP Investment Managers.
“We have seen a spectacular rally since the COVID lows and it has been a one-way streak where we have seen most asset classes performing,” he said in an interview to CNBC-TV18, adding “…earlier we had equities followed by other asset classes including commodities, real estate and across the board. Therefore, I would say that after a smart rally the market taking some bit of a breather is fine.”
Rising crude price is something that equity investors will have to keep an eye on, he said.
“Crude remains one of the important factors which plays a big role in terms of core inflation or effectiveness of foreign currency etc.,” he said.
Shares of IT companies are trading at the higher end of their historical valuations, but Sambre is positive on the sector.
“Incrementally whatever we are reading and talking to companies there is a good deal pipeline which is there for these companies to look at,” he said.
“The opportunity is there as more and more companies globally are transforming and wanting to adopt to the new digital technologies and cloud migrant. So I would imagine that large deal momentum is likely to continue which is going to keep the IT sector in a way in a positive zone,” said Sambre.
For more details, watch the video
(Edited by : Santosh Nair)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM