Quote on the markets today by Devang Mehta, Sr. VP & Head – Equity Advisory, Anand Rathi Financial Services.

Quote on the markets today by Devang Mehta, Sr. VP & Head – Equity Advisory, Anand Rathi Financial Services. “Markets seem to be taking a much needed pause & consolidating, which could potentially provide good entry points & a renewed vigor for its journey northwards. The rally in the last few days has been broad based, led by diverse sectors such as Cement & Oil to Auto, banks & even IT. Auto & Auto ancillaries have been the flavor of the season on the back of impressive auto sales numbers. The mood seems to be buoyant & sentiment upbeat with good all-round participation by various set of investors due to supportive global cues, stable crude prices, Indian macros improving & optimism returning back on the earnings growth front. Good quality midcaps which still have decent valuation & price upside are coming to the fore.”