While we are focusing on moves by the US Federal Reserve, issues closer home
could impact the market more, he told CNBC-TV18.
Elara Capital continues to be positive on sectors like private banks, cement, consumer durables and housing finance. In the PSU pack, State Bank of India is a good proxy and is expected to outperform in the next two years, he says.
The upcoming initial public offering (IPO) of ICICI Pru is worth looking at as it is a high growth company.
In road construction companies, Kumar advises to stick to smaller names as the debt-laden big companies will take time to recover.
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