Overweight on capital goods, textiles, chemicals, IT services: Devina Mehra of First Global

A relentless rally for four weeks has added 10 percent to both the Sensex and the Nifty. This is the longest winning streak so far this year. Can the bulls maintain the momentum?

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Devina Mehra, Founder, Chairperson & MD at First Global, said, “In terms of what we like currently, our most overweight sector would be capital goods industrial machinery; we like pockets in textiles, chemicals, IT services also again, it has been my call for now a 7-8 months that this year rupee is going to depreciate which you now have seen to an extent, I don’t think it’s completely done yet. So that is export-oriented sectors we have liked. Off late a few other entrants have been there, some from auto four-wheelers, auto components, a couple from FMCG. So that would be broadly the things that we would be overweight on. But we say that be the hare so move fast, but also change direction fast if you need to.”

She added, “Going forward, two important things I would like to focus on which is really a little beyond the equity markets, also one that if you want the growth in the economy, one is employment and the other is focus on technology, innovation, science, which we did very well for a time.”