Rahul Arora, CEO at Nirmal Bang Institutional Equities, told Zee Business Managing Editor Anil Singhvi on Tuesday that the economy is slowly limping back to normalcy and he would be not surprised if Nifty breaches 13,000 mark in March 2021.   

He said macro indicators are broadly in good shape. “IIP numbers have started turning positive, there is momentum in cement sector, real estate registration has increased, auto sales numbers are very encouraging, IT is doing good, while Pharma numbers are excellent,” said Rahul Arora.   

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He said the market might see sector rotation in the coming six months as Pharma and autos have made good money and there is a chance that some money might come into banking and FMCG sectors.

He said, in a surprisingly good sign, banking sector has already provided support to the market despite Reliance shares cracking 9% on Monday with market closing in green. He said all economy figures are taking us in positive direction and earnings will follow.  

Talking about which sector will lead Nifty, he said banking, pharma and FMCG can be the new leaders and will lead Nifty if his call of 13,000 mark turns out correct.  

He said this breakout in IT and pharma sectors has come after a long time and these sectors can give a multi-year bull run even from present level. He suggested to stay invested in these sectors, especially pharma.  

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Rahul Arora said FMCG stocks are also looking attractive in terms of valuations. This sector has pretty much done nothing. He said recent monsoon and stimulus package announced by the Modi government will aid farmers and all this will further help FMCG sector and money might change hand from IT to FMCG.  

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