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Editor’s Take | Sector rotation will be in play in the markets, says Nikunj Dalmia

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28 SEPTEMBER 2021 10:14 IST | ENGLISH | GENERAL AUDIENCE
Shailaja Mohapatra
Shailaja Mohapatra
After the Evergrande Crisis, China is now facing electricity crunch which is causing supply disruptions. As per reports, there are strict targets from Beijing to cut emissions as the country is facing surging coal and gas prices. Power guzzling industries have been asked to curb production, and in some cases even shut down. Analysing this, ET NOW’s managing editor Nikunj Dalmia says, “The news coming from China is clearly indicating that in the short-term, there will be supply disruption. The logistic- and supply chains have not yet stabilised due to COVID second wave, and now China’s power crisis is adding to the woes. This supply disruption can result in higher prices and inflation.” He adds, “In India, this will give pricing power to local companies, which compete with China.” Meanwhile, global energy prices have sky-rocketed, crude is now at and US bond yields are at 1.5%, but the equity markets are not feeling the heat of this. “Rotation is clearly evident. Some of the over-owned, real leader stocks are reversing. The outperformance started with diagnostics and pharma stocks, then it moved to IT and now energy producers are doing extremely well,” he says. Watch as he explains why he believes sector rotation will be in play in the markets over the next couple of days.
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