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Stay Low Beta; Add Policy Beneficiaries: Barclays

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Barclays says divergent trends in India make trend investing difficult, and investors should stay low on beta, but add some of the stocks that could benefit from policy initiatives.

The brokerage says "while growth, inflation and politics continue to flash red, valuations, earnings momentum and some policy measures have now turned favourable."

Barclays sees NSE's 50-share index or Nifty as rangebound between 5,050 and 6,100 level for the next 12 months.

The brokerage's portfolio positioning has a defensive bias with 'overweight' on IT, healthcare, telecom, building materials and select infra stocks.

Barclays is 'underweight' on Indian financial and utility stocks, while being market weight on metals and mining.