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Long-term reains very promising for India: SBI MF's Gaurav Mehta
Gaurav Mehta, CIO-Alternatives at SBI Mutual Fund, believes the long term will remain "very promising" for India. "But I think that said we shouldn't also wish away whatever we are seeing with respect to short-term macro concerns... Most of them are but global in nature," he tells CNBC-TV18.
"With a large part of the global economy sort of struggling, it is difficult to see how even though on a relative basis India will withstand that better... But on an absolute basis, I think we will also face some of those concerns coming from a weak global macro."
Market At Close | Headline indices continue to fall after Friday's relief rally on RBI boost
Here are some highlights:
Banks under pressure — ICICI Bank contributes most to Nifty’s loss
42 Nifty stocks in the red — Adani twins top losers
All sectoral indices in the red except Nifty Pharma — DRL top Nifty Pharma gainer
Metal stocks fall the most — Hindalco and JSPL fall more than two percent
ONGC and Oil India surge following windfall tax cut on crude oil production
MCX rises two percent as co extends services to 63moons for trading and clearing platform
City Gas Cos Slip After Gas Prices Hiked To $8.57/mmbtu For H2FY23
Zee Ent Closes 2% Lower Over Rpts Stating Co To Shut Channel For CCI Merger Nod
Welspun Corp Down 3.7% As Co Signs MoU W/Laxmi Organic For Land & Equipment Sale
Nykaa Up 2.5% After Bd Approves Bonus Issue Of 5 Shares For Every 1 Share Held
Sensex Slips 638 Points To 56,788 & Nifty 207 Points To 16,887
Nifty Bank Sheds 602 Points To 38,029 & Midcap Index 383 Points To 30,284
Market Breadth Favours Declines, Advance-Decline Ratio At 1:2
Buy Larsen & Toubro Infotech, Bharti Airtel: Himanshu Gupta
Here are two recommendation by Himanshu Gupta of Globe Capital:
-- Buy Larsen & Toubro Infotech for a target of Rs 4,600 with a stop loss at Rs 4,440
-- Buy Bharti Airtel for a target of Rs 830-835 with a stop loss at Rs 802
Reliance Industries, L&T, HDFC Bank, ICICI Bank to be top gainers in next few weeks: Pritesh Mehta
"The next leg of upmove will be driven by Reliance Industries, L&T, HDFC Bank and ICICI Bank," according to Pritesh Mehta of Yes Securities. "These stocks will be the leaders in the next few weeks."
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Buy Glenmark Pharmaceuticals, Avenue Supermarts: Gaurav Ratnaparkhi
Here are two recommendations by Gaurav Ratnaparkhi of Sharekhan:
-- Buy Glenmark Pharmaceuticals for a target of Rs 425-427 with a stop loss at Rs 389
-- Buy Avenue Supermarts for a target of Rs 4,700 with a stop loss at Rs 4,330