Amit Rathi, MD at Anand Rathi financial services says

The Sensex decayed 5.44 points to 23643.78 and the Nifty slid 3.15 points to 7188.60. Equity benchmarks as well as broader markets continued to unite today after rising sharply in previous two successive conferences. Select banks and auto stocks gained while FMCG, pharma and HDFC group stocks were under pressure.

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Amit Rathi, MD at Anand Rathi financial services says, the Nifty looks close to its bottom and it may see 15-20 percent upside done the next year to around 8000 levels. Punjab National Bank gained nearly 5 percent on a media report that the bank may consider selling stake in subsidiaries for raising funds. However, oil marketing companies saw selling pressure with BPCL down 3 percent.

 

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