market consolidation phase: Financials remain the backbone; cement, chemicals emerge as new leaders: Nischal Maheshwari
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"We are seeing good trends coming from the chemical sector. So, I am just highlighting all the sectors which have not done well, and these would be one of the sectors which will come out very strongly in the current year," says Nischal Maheshwari , Market Expert.This is just a phase of consolidation. We had a very-very strong run if you remember last week for the first two days and thereafter it is being consolidated because if you really look at it, we are from the bottom around 11% to 12% up and we had quite a bit of turbulence during that time and market has done really well braving all this turbulence and still coming out on the top. So, this is a consolidation phase, no need to worry. I still see a very-very strong market out there and possibly we will see a new high this year itself.Yes, financials obviously has the largest weight on the Nifty as well as it is coming from a background of almost three-four years underperformance. So, I continue to believe that financials are going to continue to do well. But there are a few other sectors which have started emerging. Cement has done pretty well in this current quarter.There has been strong volume growth and some of these companies have also started showing price improvement.So, cement is another one which should see good trend. It I believe with all this turbulence which happened in the US, things are settling down. US continues to grow strongly. So, I believe in the second half of this current year it is also going to be another one which should be looked out for.Similarly, we are seeing good trends coming from the chemical sector. So, I am just highlighting all the sectors which have not done well, and these would be one of the sectors which will come out very strongly in the current year.Now, there are a couple of other two sectors defence as well as capital goods, they have continued to do well and given the recent issues I believe defence obviously has done very well, but capital goods also seem to be in a good spot. So, there are four-five sectors which are doing pretty well at this moment.
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These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
