Remain fairly positive, market unlikely to fall; betting on largecaps: Rajat Sharma
Rajat Sharma, Founder & CEO, Sana Securities, says he is fairly positive on the market, sticking to largecaps. The names that he has already suggested many times like Infosys and ITC and HUL are the stocks that he is buying more of. They have added a few smaller companies.
Sharma also says that in pharma, he continues to like Laurus Labs and in power, he is betting on Tata Power, He is also adding ITC and Tata Motors,
How are you feeling about the market? Are any opportunities popping up?
Rajat Sharma: There are always opportunities. Yesterday has been a very, very crazy day. The markets were flattish to negative. Then, at one point, Nifty was some 300 points up. After some more volatility, the Nifty closed 240 points up. That said, I do not track markets intraday. But it is an unusual day. I think traders could answer that better.
In general, I am fairly positive that we are unlikely to fall and I said this last time when markets were falling, and a lot of people wrote off the market and said, go short on the market, sell your holdings and at that time also I said that I doubt if this fall is sustainable. I did not expect it to bounce back so sharply. And the reason was that, at that time also, I said interest rates are at an all-time high.
So, whenever there is some news around expectation for cutting interest rates or right now, there is talk that tomorrow, maybe interest rates will be status quo, but there could be some reduction in CRR. It is already at 4.85. So, I do not know, although I do not think we
