Largecap IT & bank stocks will be back in momentum: Rahul Shah
“Banking stocks have a lot of value. They were underperforming for the last six to eight months vis-à-vis the broader markets. We have seen largecap names like HDFC, ICICI, Axis, and State Bank coming into focus. And we have seen these stocks rallying,” says Rahul Shah of Motilal Oswal. Edited excerpts:
Where do you think is the leadership now lying when it comes to the markets? Do you think the banks will support the upmove going ahead?
We saw a fantastic move in the markets. After what we saw on the results front from the politics, markets have been hitting new highs post that. I feel that the markets will continue to do well.
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Banking stocks have a lot of value. They were underperforming for the last six to eight months vis-à-vis the broader markets. We have seen largecap names like HDFC, ICICI, Axis, and State Bank coming into focus. And we have seen these stocks rallying.
I feel that largecaps will continue to do well. Midcaps and smallcaps in last one year have done much more vis-à-vis the largecap indices. I think, midcaps might take a breather or maybe a sideways and largecaps will lead. There is a lot of comfort in terms of valuation in the largecap stocks vis-à-vis midcaps and smallcaps.
From the broader market, we had seen stocks like insurance, fertilizers, and speciality chemicals zooming. What is the outlook and what is the sector that is on your radar where you believe that could lead the rally in the times ahead?
Financials have been rallying and next week
