Hold on to brokerage stocks till mkt moves: Deepak Mohoni

Let’s talk about brokerages, there are 4 large listed brokerages, JM Financials, Edelweiss, Emkay and Motilal Oswal Securities.

Deepak Mohoni: Edelweiss is at the moment the mode heavily traded one. So that is behaving quite a lot like the index. It has just come back to about 1 month low or so thereabouts as indeed the indices have done. So about 57.5-58 does correspond to the Nifty’s 5950-5975 levels.

So if we have a market bounce back, chances are this will bounce back, we still have to wait and see if the market having just been battered so much in last couple of sessions would react to picking up brokerage stocks just yet because people may be still a rattle to do any speculative buying in brokerages which have not really been affected by that. They are not until if somebody picks them up.