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Below is the daily Market quote 19th October 2021 by Vinod Nair, Head of Research at Geojit Financial Services

"The Indian market was showcasing strong resilience however the stretched rally booked some gains by the end of the trading day. The IT sector continued to hold the gains while the rest of the recent performers like Reality, PSUB & Auto went into a sell-off. Our advice is to transform personal equity portfolios into a balanced basket with high weightage on defensive stocks & sectors. The Indian market is expected to get more stocks & sector specific as market parameters are extremely stretched. While moving to defensives, though near-term trend can be dull, one can give decent weightage to sectors like manufacturing, power, tourism, chemicals, renewables energy & products on a long-term basis"

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