Kotak Mahindra Asset Management Company is cautious on global-facing sectors such as metals and IT but says domestic growth is more resilient. It is upbeat on banks, industrials and auto among other sectors
Infosys is the fourth biggest stock on the Nifty 50 index in terms of weightage, with 6.7 percent. The market will also react to results from HDFC Bank, which commands a 9.3 percent weightage on the index.
The Kotak Banking & Financial Services Fund, an open-ended equity fund investing in the banking and financial services sectors, has been introduced by Kotak Mahindra Asset Management Company Ltd.
During the passing week, the frontline gauges lost 2.5 per cent due to surging COVID cases in China and concerns over renewed outbreaks in other countries.