Time to be heavy on largecaps amid volatility in the market, says Aamar Deo of Angel One
economictimes.indiatimes.comNifty heavyweights — HDFC Bank, Reliance Industries, ICICI Bank and Infosys, have gained between 6.3%-7.9%, respectively, clearly bringing forth the point that largecaps across sectors have started an up move, and investor interest appears to be increasing in them, said Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One. The smart money understands that at current levels, it would make sense to be largecap heavy rather than others, he added.
Q: The world will be in a holiday mood this week, so what triggers do you see for Nifty and Bank Nifty and what will be key levels to watch out for?
After posting consecutive weekly gains for the last seven weeks, Nifty took a breather on the back of some selling pressure witnessed in the banking space, particularly PSU banks. While on the one hand, Bank Nifty was down 1.35% WoW, Nifty PSU Bank was down 3% WoW. Other indices like auto, media, metals, IT, smallcap as well as midcap stocks ended in the red.
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Offering CollegeCourseWebsiteIIM LucknowIIML Chief Executive Officer ProgrammeVisitIIM LucknowIIML Chief Marketing Officer ProgrammeVisitIIM LucknowIIML Chief Operations Officer ProgrammeVisit Few indices that managed to buck the trend and close in the green included FMCG, energy and pharma. Overall, the uptrend in the market remains intact, with US annual inflation slowing below the 3% mark, which makes investors comfortable with US Fed rate cuts next year.
However, the recent jump in COVID-19 cases and rising uncertainty in the Red Sea do bear upon the markets, though their impact continues to be very negligible for now. Last week, FIIs were sellers to the tune of Rs 6,300 crore as profit
