Equity benchmarks continued to rally in morning trade with the Sensex surging 350 points, driven by banks, infra, metals and pharma stocks. Short covering and global cues drove the market higher.
Mahesh Nandurkar of CLSA says two unexpected big macro events - US elections and Indian currency scrappage - warrant some changes in model portfolio and top picks.
He says Donald Trump's win in US elections is a relief for Indian pharma companies and he added Sun Pharma back to top buys while the expected US infra spending boost should improve the outlook for commodities and he added Hindalco to the model portfolio.
