Would allocate higher proportion of money to top 4 banks in India, says JPMorgan’s Sanjay Mookim

JPMorgan India would allocate a higher proportion of money to the top four banks in India, said Sanjay Mookim, strategist, head-equity research at the financial services firm, on Friday.

Speaking in an interview to CNBC-TV18, Mookim said, “If they (banks) are willing to press on the accelerator a bit, it is possible that the banking name delivers the growth better than the rest of the market through the rest of the year and that is why a principal portion should end up looking at the top 4-5 banks in the country.”

On the market front, he said, “Our house view is that any major correction, any wobble in the market continues to be buying opportunities for equities, not just in India but globally.”

Central banks’ dovish stance will continue to aid equity markets’ upmove.

“The one comfort that everybody has is that the central banks will continue to buy assets at a very great pace for the rest of the year and that should underpin equity market upside for some time,” said Mookim.

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