2019 may be year of bulls, but D-Street frets about unclear signs.
Stock investors could rack gains in 2019 but
they may have to brace for sharp swings amid uncertainties over the general
election and the US economy. A majority of 26 top money managers and research
heads of brokerages polled by ET, however, said the Nifty will be up 6-17 per
cent by December, eclipsing previous records. Axis Bank NSE 1.92 %, HDFC Bank NSE
0.27 %, ICICI Bank NSE 0.54 % and Infosys are among top stock picks for 2019.
Restrained inflation, soft crude oil prices, and
the likelihood of slowing global growth should lower the bond yields in India,
where uncertainties about the outcome of this summer’s general elections could
make the rupee a bit more volatile, another ET survey of market experts showed.
HIGHLIGHTS
·
According to an ET poll, Nifty will be up 6-17 per cent by December.
·
Axis Bank, HDFC Bank, ICICI Bank and Infosys are among top stock picks
for 2019.
·
Nobody expects the market indices to end lower.
The majority of the 25 participants polled in
this survey said the benchmark bond yield could fall 25-45 basis points from
the current level of 7.45 per cent.
The more optimistic participants believe the
gauge could drop below 7 per cent. The rupee, meanwhile, could trade in the
69-73 range against the dollar, with political uncertainty having an
exaggerated impact on the local currency in the run up to the national poll,
which is likely to be held in April-May.
The market will take into account political risk
in the run-up to elections, so there will be higher uncertainty,” said Nilesh
Shah, MD, Kotak Mahindra AMC. “The biggest concern for markets is the formation
of the government after the elections and the economic agenda .
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