ETMarkets Smart Talk | Where is smart money moving? FIIs putting funds in consumer staples & FMCG: Sreeram Ramdas

economictimes.indiatimes.com:

In an interview with ETMarkets, Ramdas said: “India deserves to trade at a premium, and that’s completely alright. There are specific stocks and sectors, however, that investors must be wary of” Edited excerpts:

We are in September and Sensex & Nifty50 hit fresh record highs. What is fueling the rally on D-Street or is it just liquidity wave?
It’s a mixture of stellar results and liquidity backing the rally. Banking as a percentage of the Nifty 50 index is nearly 18%, and these banking companies have delivered solid growth on the top and bottom lines.
Secondly, on the liquidity side, despite the disappointing budget announcement, the market has held up thanks to the mass liquidity lying on the sidelines just waiting to enter markets.

What is driving the rally in telecom, infra and capital goods stocks? They have rallied 20-30% in the last 6 months.

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