Devang Mehta, Vice President Anand Rathi Financial Services has expressed his free and frank opinion on the current rally in Indian stock market and his views are as appended below:
I suppose that we are seeing this short-term rally in the markets because there is absence of a lot of cues. There are no international cues in the next two-three days that dictate a new trend for the market. Also, in the absence of local cues, I guess our markets are just experiencing a relief rally. That could fool in a lot of people and bring in to the equities. The result season will start in the second week of January. That can again start the volatility in the markets. I feel there have been pockets of strength in this quarter as well. Cement and IT are doing very well. Even the FMCG companies will tend to do well because of the food inflation coming down, maybe not in this quarter or the subsequent quarter. But I feel these sectors like FMCG, cement, IT, which have been pockets of strength and outperformers, will keep on outperforming in the market till the capex seems to be starting.
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