"They have been losing market share to private banks, NBFCs and micro-finance institutions and will continue to lose market share," said Holland.
FIIs trim positions in futures to lowest since Jan-end; experts say that coupled with Nifty at an all-time high is enough reason to be cautious.
Led by a 12% jump in Indiabulls Real Estate, the Nifty Realty index hit a 52-week high before closing 4.2% higher at 265.65 points on Monday.
Many of the stocks had hit their lowest after the noteban have since then recovered.
Paint, tyre, airline and chemical companies stand to benefit from the drop in oil prices.
The Bank Nifty has surged 24.3% so far this year, compared to the Nifty's gain of 13.4% in the same period.
There are some stocks which are witnessing high momentum, as indicated by change in OI.
EMs at the moment offer significantly better value because the growth outlook is more stable.
High valuation is the buzzword with some predicting market top and others forecasting doom.
Nifty futures witnessed rollovers of 65% to May compared to the three-month average of 70%.
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