New Delhi: After a lot of struggle, the market on Monday ended sharply lower as the Nifty ended below 8150, down 59.45 points or 0.7 percent.
The Sensex on the other hand traded down 238.98 points or 0.9 percent at 26396.77.
Dr Reddy’s Labs, Lupin, Maruti, Sun Pharma and Adani Ports were among the top gainers while Tata Steel, ICICI Bank, Tata Motors, Bharti Airtel and BHEL were laggards in the Sensex.
Although India cannot remain de-linked from global shocks, the basic premise of the bull market remains intact, said veteran stock broker Dipan Mehta in an interview to CNBC-TV18.
Mehta said that once the global turmoil is done with, the passage of goods and services tax (GST), good monsoons etc will help market go up.
He added that agro chemicals and FMCG would be clear beneficiaries of that. From the point of the view of GST, one could look at logistic companies and companies that compete against the organized sector like plywood and tiles manufacturing companies, home appliances etc, which would likely increase market share. Stocks like Century Ply, Greenply Industries, Kajaria, Symphony, Havells, V-Guard etc.
