100 bps plus cut possible by year end: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities, shares his views on market oulook.

ET Now: Are you buoyant on the markets firstly because of what happened in the rate cut,and two, coupled that up with the view on the NBFCs, you particularly were bullish on a few of these as well?

Sudip Bandyopadhyay: I will continue to remain bullish on Indian markets. This particular rate cut is just the beginning of a series of rate cuts which are expected.

I would not be surprised if we end up the calendar year with 100 bps plus cut on the benchmark and this augurs well for the economy.

Assuming that we have a budget on the expected lines which is supposed to usher in lot of reforms, we are in for a sustained bull market for some time. Of course, there will be corrections intermittently here and there that is actually good for the health of the market but overall I continue to remain bullish on Indian markets.

On the NBFC and financial services company question, we continue to maintain our view that the entire sector even today looks good. If I have to put my money on one particular sector and I do not have a choice of any other sector, I will be happy to put money in the financial services space. It will be a mix of banks and financial companies, probably I will pick up a large bank, some of the housing finance companies and few NBFCs and distribute my money amongst them.