Fund managers said China's steel capacity curtailment is more of a sentiment booster but will not have a material impact on the banks.
The Chinese stance in the steel sector matters since it accounts for almost half of global demand and half of the world's steel production.
Within the infrastructure sector it prefers pure play EPC companies – such as roads, power transmission, ports, railways, urban infra, buildings.
The Hong Kong-headquartered international brokerage said most oil and gas companies will reap benefits of stabilisation in large projects in 2017.
State elections, US President-elect Donald Trump’s economic policies on assuming office and GST implementation will be key market drivers through the year.
It is very difficult to predict what Donald Trump will do. Investors need to plan for greater volatility and wider range of outcomes than usual, says Hunt.
For the year, Kohli is positive on stocks such as Bajaj Auto, Kalpataru Power, KEC International, Tata Power, Reliance Industries and Coromandel Intl.
Higher public spending is also likely to be a highlight of the Budget, keeping in mind the nearing 2019 general elections and the slowdown in economic activity.
There is latent demand in the sector and that trigger is likely to come after the Budget. In the Budget, I expect lot of sentiment boosters from the government, said Ambareesh Baliga.
The present arrangement does not invite questions of a conflict of interest said Joris Dierckx, CEO and Country Head-BNP Paribas India.
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