Indian market turns bottom-up; manufacturing, banks offer opportunities: Jefferies’ Nandurkar
CNBC-TV18 1 hr ago·17 Sept 2026, 5:53 am
Jefferies' India research head Mahesh Nandurkar said the market is moving from a top‑down, macro‑driven rally to a bottom‑up approach, with investors focusing on company fundamentals. He highlighted that the banking sector is showing signs of recovery and that manufacturing firms are presenting attractive growth stories.
This shift matters because a bottom‑up focus can change where capital flows, favouring banks and manufacturers over broader index bets. At the same time, a rise in equity supply and the volatility of crude oil prices could put pressure on valuations, while foreign portfolio investors and rupee movements remain key external drivers.
Going forward, investors should keep an eye on banks' loan‑book health, manufacturing earnings, any changes in oil price trends, the pace of foreign inflows and the rupee’s trajectory, as these factors will likely shape the next phase of market performance.
Excerpt from CNBC-TV18
Mahesh Nandurkar, Head of India Research & India Equity Strategist at Jefferies discusses India’s banking recovery, manufacturing opportunities, rising equity supply, crude oil risks and the outlook for FPI flows and the rupee. The views and tips expressed by investment experts on CNBCTV18.com are their own, not of…Read the original at CNBC-TV18
Key takeaways
- Category: Economy.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development and could move the stock. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
