Stocks like Chola Investment rose over 13 percent, ICICI Bank closed with gains of over 4 percent, and Motherson Sumi rose nearly 7 percent were some of the socks in focus.
Given that the future is uncertain, I tend to think of stocks in terms of risk-reward trade-offs. Without getting into specific names, I see favourable risk-reward in banks, industrials, IT, and certain commodity sub-sectors.
Budget rally takes Sensex to 52,000: Here are 5 takeaways for investors
The markets are likely to inch towards 53,500 in the near term. 51,200 is now crucial support on the lower side, says Jay Thakkar February 16, 2021 / 10:56 PM IST
Indian markets have been on an upward trajectory since Union Budget which was announced on February 1. The growth-oriented proposals by Finance Minister Nirmala Sitharaman have helped Sensex climb 52,000 levels after a steep correction prior to the Budget.
Nifty50 also raced past 15,000 for the first time on February 5 and it took only six sessions for the 50-share index to surge past 15300 levels.
After a week of consolidation, the S&P BSE Sensex closed 609 points higher at 52,154 while the Nifty50 closed with gains of 151 points at 15,314 on Monday.
DAILY VOICE | Seen more beats than misses in Q3 earnings, laggards of last decade to be re-rated: Neeraj Chadawar of Axis Securities
The major change in market structure will mean re-rating of sectors which have lagged for a long period. Sunil Shankar Matkar February 15, 2021 / 08:31 AM IST
Neeraj Chadawar of Axis Securities valued the Nifty at 22x at FY23 earnings translating to December 2021 target for Nifty at 16,000, after December quarter earnings season.
Overall, earnings visibility has improved across the board; Nifty FY21 and FY22 EPS have been upgraded by 6 percent till now during the quarter with likelihood of further upgrades on the card, he said in an interview to Moneycontrol s Sunil Shankar Matkar.
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