The NSE Nifty is likely to remain rangebound between the 10,350 and 10,450 range, Ashwani Gujral, market expert, said.

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The markets closed flat on Wednesday with the BSE Sensex and the NSE Nifty closing with minor gains while the Nifty Bank ended in the red.

The Nifty closed 15 points higher at 10,417, with Reliance and TCS its major contributors.

Gujral said $71 per barrel of oil should not be a big concern as there have been worse situations in 2008 where the oil price was $140.

Oil hit its highest in more than three years after US President Donald Trump threatened to fire missiles at Syria in response to a suspected chemical attack last week.

"Sometimes the higher crude price is often a positive for equity markets, so let us see if that plays out," he said.

Gujral said that all the positives for Oil Marketing Companies (OMCs) are over. Now the negative is that the reforms get tested as oil prices move up.

Gaurang Shah, market expert, remains positive on OMCs in the longer term.The 7.17% ten-year-old bond yield, expiring on 2028, opened at 7.42% on Wednesday as against its previous close of 7.38%. "The bond yield was a bigger deal," he said.

On banks, he said, "Federal Bank is good if one is a long-term investor but it is not really the kind of compounder that people used to say it will become. If it is a short-term 3-6 months, then one needs to buy banks which are at new highs - Kotak Mahindra Bank, IndusInd Bank, HDFC Bank."

Gaurang Shah, market expert, on Yes Bank said, "If the time horizon is about a year and a half plus then it would be useful."

Here is what the stock market gurus recommend for today's market session:

> Gujral prefers IGL over MGL in gas stocks.

> Shah maintains a positive view on KNR Construction and PNC Infratech.

First Published:Apr 12, 2018 7:49 AM IST