Mumbai: The market tumbled on first day of crucial Budget week. The Sensex slumped 256 points to close at 28975, and the Nifty slipped 79 points to close at 8755.
Speaking to CNBC-TV18, Neeraj Deewan of Quantum Securities said market volatility is likely to continue. Market is getting jittery ahead of the Budget, he added. According to Deewan, government needs to kick-start investment cycle along with special emphasis on its 'Make in India' campaign.
Adding to the discussion, Mayuresh Joshi of Angel Broking said that market performance before Budget is unpredictable. Nifty has the potential of either breaching 9000 on the upside or cracking 8600 on the downside," he added. Among specific stocks and sectors, Joshi likes Dr Reddy's Laboratories .
He is also optimistic on Reliance and recommends buying the stock on significant correction. On the other hand, Deewan is bullish on financials especially private banks and a selective few non-banking financial companies (NBFCs).
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