NIFTY 50

Madhu Kela says crude prices going beyond $100 per barrel will definitely impact market

Updated : August 03, 2018 06:01:11 IST

Crude oil prices going beyond $100 per barrel will definitely impact market, said Madhu Kela, market veteran, during the Block Chain Summit at Hyderabad.

Talking on oil, Kela said crude prices will impact India economy in the short, medium and long run.

According to Kela, majority of the winners will lie in pharma and banking, "When I talk of banks, I am not telling you to buy 40 banks which are listed. So there will be a few perceived stressed private sector banks and few public sector banks, which have done significant clean-up in the last five-seven years."

However, he remains eternally bullish, regardless of whether the Nifty is at 11,300 or 10,500.

"For the last three months, indices have not painted a right picture, even though indices were at a high, there are a lot of good quality companies, a lot of midcap got bashed out. So I would say, the opportunities are in identifying the larger themes and then identifying individual stock ideas within those themes. Are there opportunities in those themes? I think there are opportunities," said Kela.

“Blockchain will not be investing thing, it is a background technology, it will enable a lot of wealth creation,” he added.
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