No runaway rally likely; markets to trade in broad range: Sameer Dalal

Fund manager Sameer Dalal expects Nifty to trade rangebound between 23,000 and 24,500 over the next several months, citing elevated crude prices, monsoon uncertainty, and potential RBI tightening. He warned that Q1 and Q2 earnings are likely to remain under pressure due to cost pressures from petroleum derivatives. On portfolio strategy, he recommended 20–25% allocation to financials (favouring private banks like HDFC Bank, IndusInd Bank, and IDFC First Bank), 10–15% to power (PFC, REC), and constructive on NBFCs such as Sammaan Capital and Shriram Finance, while flagging caution on Sammaan Capital's aggressive 3–4% ROA guidance.