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We are in a very dynamic market, analysts said. There is a lot of intra-day volatility and lower opening gaps. There has also been a lot of active churning not only from largecaps to midcaps in the last 14 days but also churning between lots of sectors. Around October 19 to November 2, the BSE Bankex, BSE Capital Goods, and BSE Metal index were star performers.

From November 1 to November 19, the BSE Oil & Gas index has been up about 7%, outperforming the Nifty by about 8%, analysts said.

Power stocks have also performed in this period. The Power Index came into existence just five days back, analysts said. Stocks like Areva T&D, BHEL, CESC, and NTPC have outperformed both the Sensex and Nifty by a gross margin.

Over the last one-week, the market has seen some amount of sluggishness in these outperforming sectors. A number of new sectors have emerged. From the infrastructure space, Maytas has gained 51% in the last one week. The other gainers include GMR Infra and Lanco Infratech.

From the construction space, HCC has given a 13.1% return in the last one-week whereas the Sensex has been up just about 4%. Nagarjuna Construction, C&C Construction, and Noida Toll Bridge are other outperformers from this sector.

In the cement space, some value buying has emerged over the last few days, analysts said. ACC, India Cements, and Birla Corporation could be stocks to watch out for.

The engineering space has seen stocks like Patel Engineering, Elecon Engineering, and Sadbhav Engineering give returns of over 10%.

PSU banks have come back into focus over the last one-week with stocks like Punjab National Bank, Bank of Baroda, UCO Bank, and Oriental Bank of Commerce rallying.

Brokerage stocks on the back of that Religare listing, which is going to happen sometime next week, and the Edelweiss IPO, which is closing today, have seen some amount of re-rating and have been running.

Some value buying has emerged in select pharma stocks. Scrips like Nicholas Piramal, Torrent Pharma, Divi's Labs, and Lyka Labs are some stocks to watch out for.

The printing and publishing space has seen stocks like Deccan Chronicle give a one-week return of 27.6%, Mid-Day Multimedia is up 39%, and Navneet Publications is up 24.2%.

These should be interesting spaces to watch out for going into the next couple of weeks, analysts added.

Source: Moneycontrol.com