New leadership sectors are being sorted out as banking and automobile- the two darling themes of the past two years' rally are both undergoing a significant correction. With inflation not getting controlled, interest rates are likely to inch up furtheer in the near term. this is likely to keep the interest rate sensitive pack under pressure. Pharma, IT, FMCG. Infrastructure and power are some of the relatively underowned sectors which might provide the necessary momentum to push the markets higher in the near term.
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