The market has been inching higher amid intermittent consolidation with the Nifty hitting psychological 11,600-mark for the first time in the passing week driven by select stocks like Reliance Industries and L&T.
Midcaps also participated in the rally with BSE Midcap index gaining 1.5 percent, but Smallcap index closed flat.
In the banking sector, provisioning was quite higher in last 4-5 quarters due to change in regulations, which seems to have picked up now, he said. "We are seeing beginning of next 12 months will be vastly different compared to previous 12 months. Even growth numbers will be strong compared to previous 12 months, so banking can see outperformance over 1 year."
Overall the market rally is driven by select stocks, mostly largecaps as corporate earnings began to do better due to base effect of GST and demonetisation disruption.
For more update you can contact us :
CapitalStars Financial Research Forex trading tips stock market tips Share Tips Expert
Get free trial Click here: http://www.capitalstars.com/free-trial
Get free trial Click here: http://www.capitalstars.com/free-trial
0 Comments