Mkts likely to remain rangebound in near-term: IIFL

The Nifty has seen neither significant upgrades nor downgrades after the earnings season. Market valuations are reasonable and markets are likely to remain rangebound in the near-term. We continue to prefer domestic consumption, cyclicals over global cyclicals like commodities. Our top large cap buys are SBI, Dr Reddy's, ITC & Infosys.