ETMarkets Smart Talk: Space and Defence among top 6 sectors that will drive next leg of the rally on D-St: Ajit Banerjee
“Market movements reflected that the bulls are in control at the moment and if this bull run continues then the market climbing to some new highs during Diwali cannot be perhaps ruled out,” says Ajit Banerjee, CIO of Shriram Life Insurance Company.
In an interview with ETMarkets, Banerjee said: “Space and Defence sector in view of the government focus on developing these sectors and strive towards attaining Atma Nirbhar Bharat will propel the growth” Edited excerpts:
What a week for Indian markets – 20,000 and counting – what next?
The NSE (Nifty -50) reached the 20,000 milestone early last week and continued in the 20 K territory during the week and closed at 20,192 at the weekend.
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Last week, market movements reflected that the bulls are in control at the moment and if this bull run continues then the market climbing to some new highs during Diwali cannot be ruled out.
The market rally in the FY 23-24 so far has been primarily driven by foreign flows and also reasonably strong inflows from domestic investors as well. There has been a broad-based rally in the market.
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We are seeing Banking, Financial services and insurance stocks, capital goods sector, Public Sector Undertakings taking the lead in this regard and initial positive signs coming from IT sectors and pharma sector as well.
Having said that, we should be prepared for some
