Abhishek Basumallick shares insights on market trends. He favours small and midcap stocks despite expensive valuations. He also predicts a pre-election rally. He remains optimistic about PSUs, railways, energy transition, and real estate growth. Basumallick says he is bullish on insurance and chemicals sectors which could very well turn out to be dark horses for the Indian market.
“India right now probably is poised in a sweet spot. FPI numbers have been pretty good. But overall, if you look around the world, there are a lot of challenges. So there is a possibility that we can get bad news from global markets and Indian markets is by no means completely decoupled from global markets. So risk will probably come from something that we are not factoring in today.”
“We are researching the insurance sector. Some of the businesses seem to be looking at earnings coming back to an extent and so that is one space I am looking at. Among others, engineering and the capital goods sector continues to be very interesting and pharma looks very interesting once more.”
Shares of Adani Wilmar (up 29 per cent), Adani Power (up 16 per cent), Adani Transmission (up 15 per cent) and Adani Green Energy (up 15 per cent) also gained in double-digits.