“Markets won’t wait for the nth hour and you will see a fair amount of hedging, discounting before the event happens,” he said, referring to the US elections whose outcome will be known on in a week’s time.
As post Brexit days showed, the market is not focussed on the long-term implications, he said. Any fall in the market will be brutal but short-lived,
The only thing that worries him is that this market hasn’t fallen much since February. This conviction on the part of local investors hasn’t been tested since the day of Budget, he said. “If the Trump event were to happen, then I think we might see a sharp, short selloff and given midcaps have outperformed a lot…there will be a test of the mettle of local investors.”
In the wake of the turmoil at Bombay House, Tata Group stocks have been in the news.
Researcher says he would create two baskets. In one of them he will put TCS and Tata Motors as stocks he would look to buy, and in the other he would put more volatile ones like Tata Steel and Tata Power.
In metals, he would go for Vedanta and Hindustan Zinc . “Given that there is global uncertainty I would be in gold in metals.”
He would watch Bank Nifty closely and hopes that ICICI Bank doesn’t disappoint with poor numbers like Axis Bank did.
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