Suggest to buy in Consumer durables, FMCG and cement sector: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities, shares his views on the earnings. Edited Excerpts:

ET Now: The earnings do not promise to be good. The start of the season with Infosys will probably not be the greatest. IT companies have shown their hand ahead of the numbers. The earnings season for couple of these heavyweight sectors does not promise to be good. Do you believe we can trade higher from where we are right now for the benchmark indices at the end of January?

Sudip Bandyopadhyay: I do. It is predominantly on the back of the fact that the pending reform measures are probably going to be taken and initiated through the ordinance route. People are talking about a joint session of Parliament to eventually get these measures passed. These are interesting developments. The mining ordinance which is being talked about along with the land ordinance is long awaited. These ordinances will change the momentum of reform and take India to the next level.

Yes, Q3 earnings may not be great. There are true for both IT and pharma companies. Cross-currency movements will be a matter of concern. IT and pharma companies will take a little bit of a hit on account of that. Global markets like Russia, Venezuela and some other emerging markets were not doing too well. Some of the pharma companies will be affected. A lot of these big names for Indian market will be little. Their expectation needs to be a bit toned down. Overall, the domestic economy has not done too badly. Consumer durables is one sector which we will be watching out carefully. FMCG, Cement are other sectors we will be watching. I do not think it will be too bad. Yes, couple of the sectors will not be probably as good as was expected.