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ETMarkets Investors' Guide (ETMarkets.com)
Which sectors can offer next set of winners in market?
12:03 Min | May 22, 2020, 7:01 PM IST
Tune in! We discuss where the real opportunities to ride the revival wave lie.
TranscriptHello, this is ETMarkets Investors' Guide, a show about asset classes, industrial sectors and market trends. I am Saloni Goel.
Stock markets globally are trying hard to come out of the pandemic-induced depression. While markets have logged substantial gains from their March lows, some analysts have raised the red flag, saying in many cases investors may have lost sight of the fact that the lockdown has caused tremendous cash flow disruptions, destroyed demand and reset consumer behaviours. So what are the early trends suggesting about these disruptions and where is the real opportunity to ride the revival wave?
We caught up with Viraj Mehta, MD and Head of PMS at Equirus Securities to seek answers to these questions and more.
Hello Mr. Mehta, welcome to the show
Q1. First and foremost, has the market revival begun? If so, what looks attractive for you in the broader market?
Q2. Midcaps and smallcaps have possibly taken the biggest hit in the recent selloff and ever since not many people are talking about a midcap or smallcap opportunity. But your PMS, Equirus' Long-Horizon Fund, which focuses on midcaps and smallcaps seems to have come unscathed in the selloff. How did you manage that?
Q3. Fair enough. But if you are to advise me now, would you ask me to put my money in midcaps or stay put in largecaps? Because the months ahead look tough from an earnings growth and demand point of view.
Q4. You look pretty bullish on Chemicals, and that's another segment that have been least affected by the Covid lockdown. But valuations may have become toppish there, aint it?
Q5. You are sitting on a significant cash, which means you are waiting to buy. Which are the pockets you maybe watching with keen interest?
Q6.Lastly, financials. We get two views there. Some say it's the best proxy to economy, because GDP growth will require credit growth. Others say this basket has just entered a bad patch. Now I have two questions: 1. what's your outlook on this basket, and 2. if financials are to go into a prolonged depression, how can Nifty really go back to where it was...financials are 40% there.
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