homemarket Newsstocks NewsIndian equity market upbeat; bullish on IT, consumer stocks: Motilal Oswal Financial Services
Indian equity market upbeat; bullish on IT, consumer stocks: Motilal Oswal Financial Services
Ahead of Motilal Oswal’s 17th Annual Global Investor Conference, Gautam Duggad, head-research, institutional equities and Sachin Shahane, head-sales, institutional equities at Motilal Oswal Financial Services, spoke at length about specific stocks and sectors.
Gautam Duggad, head-research, institutional equities at Motilal Oswal Financial Services, on Friday, said that the mood in the Indian equity market is very upbeat.
Ahead of Motilal Oswal’s 17th Annual Global Investor Conference, Gautam Duggad and Sachin Shahane, head-sales, institutional equities at the financial services firm, spoke at length about specific stocks and sectors.
“The mood is sanguine, sentiments are upbeat and this is also driven by underlying strong corporate earnings performance, benign liquidity and the assurance that interest rates are not going to go up in a hurry. So all of that put together has acted as a confluence of factors, and we are expecting a very strong next two weeks at our conference as well,” Duggad said.
He also said that banking and financials look very good at current levels. “Banking and financials look extremely well-poised because this sector is a large component of the Nifty at about 38 percent and their earnings have been solid despite all the challenges that we have seen in the last 18 months. For next year also, we are predicting strong earnings in the largecap financials and there is room for this sector to catch up and correct its underperformance,” said Duggad.
“The other two sectors that we have been bullish on for some time now is IT and consumer; out of which IT has run up a whole lot. So there can be some breather there, but the next 3-year story on IT backed by digital transformation looks extremely solid. And consumer, which is an evergreen story in India, which has lagged in the last 12-13 months but now, it is catching up, stocks like Titan, Britannia have run-up,” he said.
Also Read: China’s regulatory onslaught positive for Indian stocks; don’t expect correction: Motilal Oswal AMC
Meanwhile, Shahane said that a lot of merger and acquisition (M&A) deals will happen in the insurance space. He said, “We will see a lot more action happening in the insurance space and we are extremely positive. We have a very strong belief that most of the companies in this sector will show strong growth.”
For the entire discussion, watch the video
(Edited by : Dipika Ghosh)
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!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM