In a recent interview with CNBC-TV18, Rana Gupta from Manulife Investment Management, shared insights on the emerging potential in India's automotive and banking sectors, and the opportunities in these spaces amidst ongoing market consolidation.

Share Market Live

NSE

“The large-cap stocks like autos and the banks are looking reasonably valued considering their earnings growth promise. So, the idea will be to use this consolidation opportunity to look at sectors where you get good growth at reasonable prices, and auto and bank are now offering pretty good growth and valuation,” Gupta said.

Gupta also highlighted the increasing interest in equity markets, both globally and in India.

He pointed out that there is a "lot of interest in equity markets and in India as well, due to its macro stability."

This observation underscores India's growing prominence as an attractive investment destination. The country's stable macroeconomic environment is seen as a key factor driving investor confidence, with many seeking opportunities to participate in India's economic growth story.

According to Gupta, Nifty can remain between 18,500 and 20,000 levels.

“If you look at Nifty over the last one-and-a-half-two years; it consolidates in a narrow band. It was previously consolidating between 16,500 and 18,500 between ’21-22; breaks out 18,500 to 20,000. Now, it can remain in that band for some time, consolidate before moving up sometime earlier or middle of next year,” Rama said.

For more details, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com's blog

(Edited by : Shweta Mungre)