Reply #35: Market to give decent returns post earnings season: Experts [View All]

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http://www.moneycontrol.com/news/market-edge/market-to-give-decent-returns-post-earnings-season-experts_538720.html

After witnessing a volatile trade throughout the day, the market slipped into a red terrain mainly on disappointing Q4 results posted by IT giant Wipro and pressure put by heavyweight industry stocks of Reliance Industries, BHEL, TCS, L&T, SBI, ICICI Bank, HDFC Bank and NTPC. Experts think that once the earning season is over, the market will be able to set fresh highs again.

In the view of Rahul Mohindar from Viratechindia.com, traders have been looking at the market directly from a long term perspective and over the next couple of weeks, it is likely to head towards the 6000 level. “We see decline as an opportunity to get in. I see correction down to maybe 5750- 5760 but that will not be a vigorous downside,” he said adding that he is bullish on sectors like banking and technology as they have the potential to lead the market rally.

Talking about interest rate hike, which may impact the market adversely, PN Vijay, Portfolio Manager said that the government may use various fiscal tools to contain inflation and food prices than hiking rates by more than 25 basis points. Like Mohindar, Vijay is also positive about banking sector. He feels that the State Bank of India and ICICI Bank have the potential to pull the market after a boring phase. “I do expect good results from ICICI Bank, which will take the market out of this trading range.”