NIFTY 50

Market to be rangebound; worst is over for Banks, says BOBCAPS

Updated : January 23, 2019 10:53 AM IST

Market will continue to be rangebound for the next three to four months, said Ratnesh Kumar, managing director and CEO of BOBCAPS.

The house is very upbeat on all the sub-segments related to house building like paints, construction, etc., he said, adding that the growth for this space looks secular and sustainable for the next 2-3 years.

“Whenever the market is in an uncertain phase, the consumption space tends to do well,” said Kumar, in an interview with CNBC-TV18.

The house is negative on global commodities, he said as globally, China is slowing, there are trade issues, etc. "So the focus should be on domestic non-commodity sector rather than global commodities," said Kumar.

Kumar is positive on the midcap IT.  "The space is likely to see steady growth," he said.

From the financials, Kumar is positive on the corporate banks on back of pick up in recovery. "Banks will lead the market from hereon for the next 1-2 years on back of many reasons. Business fundamentals will improve for them, the worst is over in terms of NPAs," he said.
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