Apart from IT & pharma, private sector banking space may see a bit of traction: Nipun Mehta, Blue Ocean Capital Advisors

In a chat with ET Now, Nipun Mehta, Founder & CEO, Blue Ocean Capital Advisors, identifies the big trends in the market. Excerpts:

ET Now: Minus IT and pharma, what are the other big trends?

Nipun Mehta: On the back of a weak rupee, one could clearly look at the export-oriented sectors. Of course, that would typically end up including a bit of pharma and IT as well, but the continuing weak rupee is something that is benefiting a lot of these sectors.

The private sector banks have shown much greater strength in comparison to the PSU banks. Our sense is that a degree of outperformance will continue to be seen as far as that space is concerned.

Most of the other sectors that are there, whether it is metal, cement, infrastructure, capital goods, could move up intraday or for a few trading sessions, not necessarily on a sustainable basis, but on the back of investor interest. However, beside IT and pharma, you could see a bit of traction as far as the private sector banking space is concerned.



ET Now: Give me an absolute return idea.

Nipun Mehta: Infosys, Wipro and Axis Bank clearly stand out, given the fundamentals of these three stocks, irrespective of the time horizon.