“The market is lacking a very clear trigger right now, which is why we are seeing range bound movement with a slight upward bias. Based on news flow, stocks move up or down. The buyback announced by Infosys gave a leg up showing that companies are rewarding shareholders. Similar buybacks by TCS and other IT majors are creating excitement in the IT pack. Metals and defence are moving due to specific order wins. I believe the overall structure for metals is positive for the foreseeable future.
“I still focus on large-cap stocks and sectors less dependent on global trade issues, like cement, infrastructure, and construction. FMCG is on the path to recovery, though timing may vary,” he said in an interview to ET Now.
When asked about muted market reactions to recent government announcements and trade comments, Bandyopadhyay explained that most expected impacts are already priced in.
“The GST relief has largely been factored in. Stocks that needed to move have already done so. People will wait for actual performance before further gains. Auto and consumer durable sales are slow as buyers wait for new GST rates on 22nd September. The festive season will kickstart purchases, but share prices are unlikely to reflect it immediately.”
On the trade front, he added, “Regarding Trump and Modi’s comments, the market is used to tariff updates via tweets. India will not cross its red lines on agriculture, dairy, or Russian oil. Any compromise will require long negotiations, likely around November or December, rather than being driven by tweets.”Bandyopadhyay’s analysis highlights cautious optimism in the market, emphasizing structural positives in metals, IT, and large-cap sectors, while noting that near-term triggers remain limited. Investors should focus on sectors backed by solid fundamentals and long-term growth prospects rather than short-term news cycles.
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