In this episode of The Week on Dalal Street, CNBC Managing Editor Anuj Singhal tells Santosh Nair that the market trend may have reversed and the Nifty could fall another 6-8% from current levels.
With interest rates rising, investors are likely to move some money out of equity and into debt. This is another headwind the stock market will have to put up with.
FMCG, select banking and auto stocks could do well, while IT shares could be in for some more declines given that they are still looking expensive relative to their historical valuations.
Anuj Singhal sees PSU defence stocks underperforming because the government is likely to sell shares through the Offer For Sale route given the strong rally in these stocks in 2022.
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