Sanjiv Bhasin, Director at IIFL Securities, believes that while the midcap market may not be very promising, the largecap market is expected to perform well. Bhasin suggests that the Nifty and Bank Nifty should be overweighted at this point due to several favorable factors such as falling yields, weakening dollar, and falling oil prices. He believes that financials and industrials will lead the market in this scenario.
Bhasin acknowledges the recent market volatility but attributes it to collateral risk and proximity to expiry. He believes that this should not be a cause for concern and highlights the fact that big investors have covered their shorts on bonds, indicating their belief that bonds are overpriced. Bhasin also mentions that Bitcoin has reached its highest level in two years, signaling a potential turning point.
In terms of banking stocks, Bhasin identifies ICICI as a standout performer with strong numbers. He also mentions HDFC as a bank poised for growth and suggests considering SBI card as a wildcard option due to expected strong numbers in credit card spends during festivals. Additionally, he mentions RBL Bank as a midcap stock with potential for outperformance.
Bhasin provides three stock ideas for long-term investment. He recommends ABSL AMC, citing its potential for growth in the distribution segment and new product launches. He also suggests Devyani International in the QSR space and Idea as a potentially lucrative investment due to rising ARPUs and 5G prospects.
In response to a question about the underperformance of AMC stocks despite the growth in SIPs, Bhasin asserts that choosing the right basket of stocks is crucial. He believes that AMC stocks have great long-term wealth creation potential and compares them to brokerages and insurance companies. Bhasin specifically recommends ABSL AMC as a top pick within this sector.
Bhasin concludes by expressing his hope for investors to make money during this opportune time for India’s market. He emphasizes the compounding growth rate of SIPs and encourages investors to consider AMC stocks as long-term wealth creators.
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