Select PSU Banks may witness renewed buying - Microsec

The outlook for the Indian markets during the week remains volatile, although buyers are expected to emerge on corrections. In anticipation of positive outcome of Indian PM visit to US during 1st week of Oct expect renewed strength in Oil & Gas sector. IT, Pharmaceuticals and select Textile stocks have already run up sharply in past 1 month in anticipation of the same, as expected earlier.

Banking stocks, particularly select PSU Banks like SBI, BOB, PNB may witness renewed buying as debt laden corporates lessen high cost debt with other equity options, bringing down bad loan pressure on Banks.

Bajaj Electrical, Thermax, Engineers India, Crompton Greaves, IL&FS Transport offers good fundamental value with long term perspectives (Refer to reports by Microsec Research).

The F&O clearing settlement and Eight Infrastructure Industries data for the month of August are schedule on September 25,2014.

Source : Equity Bulls

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