HPCL, BPCL, IOC, Hindalco, Adani Ports may be in focus today

Bull market or bear market?

Markets are expected to continue the ongoing positive momentum with Nifty likely to test 10700-10750 levels in the near-term. Any pullbacks towards the supports of 10500-10550 levels should be used as a buying opportunity.

Stocks likely to be in limelight today?

Oil marketing companies like Hindustan Petroleum, BPCL and IOC are expected to remain in the limelight amid falling crude oil and strengthening the rupee. Other high beta stocks like Hindalco and Adani Ports are also expected to do well in the near term.

Sectors likely to impact market today?

The financial sector may become the flavour of the market with banking stocks leading the gains followed by select stocks in NBFCs space

Your mid-term view?

Volatility in equity markets was low in the recent past, we believe that volatility regime is heading higher as central banks pursue tighter policies. Elections will add to further volatility, but we believe that markets will head higher on account of a turn in the investment cycle, which should improve corporate earnings.

What drove markets on Thursday?

Strengthening of the rupee, positivity in the Asian markets were factors driving equities.

Vivek Ranjan Misra, head of fundamental research, Karvy Stock Broking