"If the monsoon pans out in the normal fashion, the rural plays will continue to do well this year," said Mihir Vora, Director and CIO, Max Life Insurance.
“Consumption per se is going to be a significant theme as an economic driver but within that, rural may even accentuated because of the election led spending. I think there will be little bias towards spending in the rural segment," he said.
Talking on markets, he said, "We should see some kind of consolidation. We have seen quite a lot of volatility in March and April both on the downside as well as upside. Now with the results season on, I guess markets will digest the earnings numbers for the next few weeks and then take a call going forward."
Vora was optimistic about information technology (IT) stocks, "It has been an interesting ride over the last three months for IT. Numbers have been mixed and there have been some positive surprises."
He said that bigger driver for IT is the fact that the US economy seems to be doing better than what was expected.
“In Non Banking Financial Companies (NBFC), we prefer the ones with a little bit of retail mix rather than the corporate oriented lenders,” he further mentioned.
He continues to maintain a little bit of overweight on metals.