Arun Thukral, MD & CEO, Axis Securities tells ET Now that he continues to be bullish on consumption, infra, auto and auto ancillaries, chemicals and textiles sectors.Edited excerpts:In the last 15 days, the market has not moved an inch. Nifty has been packed in a narrow band of 100-200 odd points. What direction could the markets take in the second half of this year? Last few days, the market has been moving sideways because of global headwinds. The tariff war is real. May be the word is going inwards and maybe it is not a good scenario for any country. We are talking about US and China but all other countries also will suffer. So, this is a major global headwind. Apart from that, on the crude front we are also seeing meeting happening today and if Saudi and Russia have their way, there may be some relief in oil prices as production supply increases. Back home, we have state elections and next year, the general elections. All these things are keeping markets in check but medium to long term, we always say that we are looking at a great economy if you are saying that a $2.5 trillion economy is inching towards 5 trillion in next five to seven years.The per capita income also is going up. What we have seen in all those developed markets where the per capita income has crossed 2000 is a consumption boom. With 1.25 billion people in our country that is also going to be there thus history is going to be repeated here. So we are telling our investors to keep buying and keep using this opportunities and accumulate good sectors, good stocks. Where are you finding those opportunities? What are the sectors or stocks where it is time to accumulate? Starting with the consumption boom, consumer goods, consumer discretionary and may be clothing, media, entertainment all these sectors are going to do very well. Consumption is our number one theme. If you look at the Q4 results, FMCG companies have done well. Next in line is auto and auto ancillaries, which is our steady call for the last two-three years and especially the auto ancillaries because of the efficiencies we have built at different centres. All the global majors have set up their units here and these ancillaries companies supply to them also. Because of the elections, lot of projects will get completed and so some infrastructure names with light balance sheets should do well. Plus all the housing related and home improvement themes will also do well. Lastly, textile and chemical sectors should perform well because of cap on Chinese production due to pollutions fears. These are some of the pockets where we find great opportunities. How are you approaching the oil marketing companies in the wake of the oil story? OMCs are also moving sideways because again there is a lot of uncertainty. As of now, we are cautious and neutral. We are not taking any stand and we are not advising at this point of time any purchasing in these kind of stocks, any buying in these kind of stocks. But do you think that the oil story could be a big headwind for the economy in general or do you see the risk mitigating with OPEC deciding to hike output? From India standpoint, oil prices going up or down matters a lot. Globally, we are seeing the tariff war is number one headwind, but for India crude price also is a great factor. When there are better sectors in consumption, in infrastructure, or in housing related or private banks or NBFCs, it is better to focus there, rather than an area where there is a some kind of uncertainty.