Sensex sizzles at 60k: Here’s what the top gurus in the market have to say about the rally
(Representative image) | Photo credit: BCCL
Magic Friday for Dalal Street, as the benchmark Sensex touched and crossed 60,000 for the first time in its history. The last 10,000 points were added in just 246 days. Nifty is also aiming for 18,000, just under 150 points. Participation in retail made the bulls roar and the markets soar.
Sentiment is supported by positive global signals – Fed commentary on taper schedule on expected lines, oil and dollar prices are stable. Experts say large-scale buying has been driven by the FII and DII players and the classic “Buy The Dip” model is also at work.
SHANKAR SHARMA: DO NOT SEE A BEAR MARKET AT ALL TIMES
Shankar Sharma, co-founder, First Global Securities doesn’t see a bear market anytime soon, although there may be days when we will see corrections, he says. Sharma says it’s still possible to buy stocks and get decent returns; real estate is coming out of a very long period in the wilderness, he believes. The big asset cycle takes time to unfold and equities and real estate are currently the two largest asset classes in India, according to Shankar Sharma. Indian IT companies have continued to remain excellent and have remained focused on brilliant execution and mid-cap IT companies have managed to overcome many challenges in recent times. Actions like PVR, DLF can see good progress. Pharma API is a good bet; he doesn’t see many FMCG stocks moving in a bull market. He also thinks ad technology is a very interesting space.
JIM ROGERS: INDIA IS THE HOTTEST MARKET IN THE WORLD
Investment guru Jim Rogers says, “India is the hottest market in the world this year. China is not. America is certainly not; it was, but not now. The Indians once again show how intelligent they are ”. Speaking of the Chinese government’s crackdown on the gaming industry, tech companies and now Evergrande’s debt, Rogers said, “There were billions of dollars in unregulated loans in China, which was a big deal. disaster that was waiting to happen. I’m glad they cut that down because it gave some people an unfair advantage. So it was a good decision for me. Still bullish on precious metals, Rogers adds that “if I were to buy one thing now, it would be a choice between agricultural commodities and silver.” But if I had to buy one thing in September 2021, it would be agricultural raw materials ”.
SANDEEP TANDON: MORE OPPORTUNITIES TO INVEST
Sandeep Tandon, CIO – Quant Mutual Fund believes the markets still offer investment opportunities, although liquidity remains high. He remains “constructive” on India and suggests reviewing actions in the energy, capital goods, real estate and textiles sectors.