Market lacks fresh triggers; see value in banking, financial stocks: Taher Badshah of Invesco Mutual Fund

livemint.com:

Taher Badshah, Chief Investment Officer at Invesco Mutual Fund believes it is going to be a period of low triggers in the market as there is not much in terms of actionable events to look forward to, except for policy rates at a global level, the monsoon development, and the election results from a domestic standpoint. In an interview with Mint, Badshah shared his views on markets and sectors he is positive about. Edited excerpts: We will be in the run-up to the elections in the coming weeks, but that too, at some level, has been taken into cognizance by the market.

The market’s strength can be partly attributed to the possibility of a good outcome for the existing current government in the elections. We are also behind the results season now. We will get into a stage where, from an earnings perspective, it will be more like business as usual.

We don't have any great events lined up. There could be a bit of an issue in terms of new policy announcements as well, given that you will get into this election code of conduct too. However, there is one area that the market will probably look forward to in the coming weeks- the initial assessment of the monsoon in 2024.

And that's something that will be quite important from the point of view of inflation or overall consumption strength, the recovery at the bottom end of the income pyramid, and rural recovery. So quite a lot of people will be guided by the outlook on the monsoon. The other thing that we may now incrementally witness is any global developments from year on.