Stock market guru and chief executive officer of Dimensions Corporate Finance Services, Ajay Srivastava on Wednesday said market crackdown was due to correction from the overseas market.
Srivastava said, "If liquidity dries up, we will see a lot more domestic sales. So, I think it is just a function of how much buying will take place between today and tomorrow, will determine where the market will go in the next week."
"If you look at big consumer stories like Maruti Suzuki, the company had a dramatic fall, so tractor and automobile companies also. Private banks were the clear winners in this game and a few retail companies like Titan and Bata India. So if you look at the winners, by and large, there is a very select group including Reliance Industries Ltd (RIL), which is led by the winning pack. However, the private banks have led this rally with the aide of 5-10 or at the best 15 companies," Srivastava said.
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