Atul Suri, CEO, Marathon Trends-PMS believes despite the prevailing pessimism and the market being oversold, the underlying desire for an upward trajectory remains apparent.

Share Market Live

NSE

"There is a lot of negative global news but the market is actually saying that it wants to go higher,” Suri said.

Also Read | India is a promising destination for global investors, says EY CEO Carmine Di Sibio

The ongoing trends within various sectors and themes, including infrastructure investments and the capital goods industry, indicate there is significant room for further growth, he said.

“I do think that the market is going to reward these things. They will surprise us as far as earnings go and these will be a larger trend playing out here,” he said.

Also Read | Matt Orton on why India is a top pick for Raymond James Investment

He said his portfolio doesn't include many large private sector banks, but he has a higher allocation to the non-banking financial companies (NBFC) sector.

“The dynamics of this industry are changing. There is a lot happening and the action is going to be more in the NBFCs space,” he said.

Talking about tech space, he mentioned that he is overweight in the midcap IT space.

“As a trend follower, I find my footprint in the more midcap IT space. I like the largecap stocks but I will wait for them to deliver,” he said.

Also Read | Headcount down, expect attrition to come in 11-14% range by Q3: TCS CEO

“I would like to allocate 15-20% to IT. In these spaces, one does not know how long it is going to take – they are great companies, they will do well. But when they will do well, we will be in it. At the moment, something else is doing well,” he noted.

For more details, watch the accompanying video

(Edited by : Shweta Mungre)