Home / Business / Money / Book profits now; cement, pvt banks good themes: Experts

Book profits now; cement, pvt banks good themes: Experts

Sudarshan Sukhani of s2analytics believes it is good time for traders to book profits and must avoid fresh buying. Cement and private banks are good themes currently.

After Indian market hit record high on Tuesday, experts suggest taking profits and avoiding a buy, as of now. Sudarshan Sukhani of s2analytics believes it is good time for traders to book profits and must avoid fresh buying. Cement and private banks are good themes currently.

The Sensex ended Tuesday at record closing of 28785, up 523 points and the Nifty shut at 8696, up 145 points.

In a discussion on CNBC-TV18, Ajay Bagga of OPC Asset Solutions says the market has moved more than 500 points in past three days which indicates good momentum. However, if there is any bad news like global turmoil or an unexpected outcome from Greece elections on January 25, market may react negatively.

According to him, the economic turnaround is unlikely to come anytime soon. The capex is lacking, private expenditure is missing and will take some time before there is money in the system.

Bagga is bullish on private banks and selective non-banking financial companies like housing finance companies and considers them a long-term play. Cement, IT and pharma are also among his preferred sectors now. He, however, is bearish on public sector banks as problems related to bad loans still haunt this space.  

Meanwhile, Kunal Saraogi of Equityrush recommends staying away from metals. Among specific stocks,  Tata Motors and  HDFC tops his buying list.

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...