Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 ended a choppy session on a flat note on Friday, halting a five-day winning streak.
Adani Ports, Larsen & Toubro, Bharat Petroleum, HDFC Bank and Tech Mahindra were also among the top gainers.
“It has enough legs to see some sort of a price upmove if there is improvement in the numbers as being anticipated and the best part is it’s going into earnings without much of expectation.
Sterling and Wilson Renewable Energy shares jumped on Friday, extending gains to a second straight day.
It’s important to look at the macro factors in India, according to Richard Harris, Chief Executive, Port Shelter Investment Management.
Whatever disruptions we have had in 2016, 2017, 2018, 2020 and 2021, I think the clear winner in this space is going to be banks.
RoEs have already gone from mid-teens to mid-twenties and in the Chinese insurance companies, you have seen report even higher numbers,” he added.
Aluminium prices are up 16 percent since mid-December, returning to levels last seen in October 2021, the brokerage said.
“Deal volume has moved to smaller deals, and therefore the smaller companies have actually emerged to be a lot better in terms of reporting.
The rest everything has moved up and you will need a bigger jolt, even bigger than what Infosys provided, in order for you to see a positive momentum there,” he added.
The digital transformation also gives us confidence that we are in the right place in terms of catering to the demand given the capabilities that we have built,” he said.
Gurmeet Chadha, Co-Founder and CEO of Complete Circle Consultants, prefers non-ferrous stocks from the metals space.
Prices have come down but purely from a risk-reward perspective, if you want to play the capex-led growth in the economy, or a domestic cyclical recovery, there are better players, including capital goods, CV players and logistics,” he said.