The market has closed down with a decline today. The Sensex fell 312 points to close at 78,271. At the same time, the Nifty fell 43 points to close at 23,696. The Nifty Bank climbed 185 points to close at 50,343. While the midcap climbed 367 points to close at 54,181. Today, 20 of the 30 shares of Sensex declined. While 26 out of 50 shares of Nifty declined. 7 out of 12 shares of Nifty Bank saw a rise. In such an environment, discussing market fundamentals JM Financial Services fund manager Ashish Chatur Mohata Said that they are quite bullying on banking and financial shares.
Government tried well to increase consumption in the budget
In this conversation, he further said that the government has tried to increase consumption in the budget. Apart from this, if you look at the Grant of the States, the Capex has also seen a 17 percent increase. If you look at the central government data, then the Capax has gained about 11 percent. If you look at the overall figures, then there has been a capex growth of about 17 percent.
Credit growth of banks likely to rise well
Apart from this, the government has also focused a big focus on export and investment. Due to all these factors, the crode growth of banks is likely to rise well. In such a situation, banks with good asset quality and good valuations like HDFC Bank, ICICI Bank and SBI are likely to look likely. Apart from this, quality NBFC shares like Bajaj Finance are also expected to rise. If consumption increases, it will directly benefit shares like Bajaj Finance.
Toll tension on the highway will end, will be an annual or life time toll option for private car owners
Expect strong growth in further defense shares
Ashish said that his portfolio includes L&T shares from Pure Play Infra. In infra, he has played proxy through wire and cables. He says that the defense sector is the most important part of the entire capex theme. Further defense shares are expected to grow strong.
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