Home / Business / Money / Market to rally further; banking to be key driver: Experts

Market to rally further; banking to be key driver: Experts

The market currently is discovering new stories to take it up but banking will continue to be the driving force. “The stock market theory is rested on the banking sector and no other sector is likely to take it up,” says Ajay Srivastava.

With the Nifty hitting all time high of 8629, Ajay Srivastava of Dimensions Consulting says the market currently is in such a momentum that anything is possible – the Nifty scaling further highs cannot be ruled out.

At about 12:50 pm on Tuesday, the Nifty touched record high at 8628 today, up 68.55 points or 0.80 percent at 8619.25 while the Sensex rose 249.88 points or 0.88 percent to 28511.89.

The market currently is discovering new stories to take it up but banking will continue to be the driving force. “The stock market theory is rested on the banking sector and no other sector is likely to take it up,” says Srivastava.

UR Bhatt, MD of Dalton Capital says long-term investors need to stay invested because in case the Budget delivers on the reform front then the market is sure to have a good trajectory for the rest of the year. However, short-term investors may have to deal with a bit of volatility in the very short-term.

Ajay believes the government seems to have got its fiscal arithmatic under control. Moreover, the domestic stories seem to be getting better and better although export stories may become worrisome, so there is a need to relook at one’s IT portfolios, he adds.

more to come

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 ...