Published on Thu, Nov 26, 2009 at 15:58 | Source : CNBC-TV18
Updated at Fri, Nov 27, 2009 at 08:11
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Centrum Sec sees Sensex at 22,000 by 2010 end
The Sensex has closed below the psychological 17,000 mark and the Nifty has closed just above 5,000 with most experts expecting the Nifty to close around 5,100 on expiry day. With a fall in global markets weighing on Indian equities, how are investors reading the development in the markets?
Q: I would appreciate that you are not the Indian expert but what kind of sectors would you think will take the Sensex to that kind of a level?
A: I think to get the broad index up you will have to see certainly the banks continuing to move. We like infrastructure related areas. So that has knock-on effects obviously in the likes of cement. And broadly I think the key here is that flows of money continue to be good, and that there aren't too many upsets perhaps on the inflationary front, and corporate India continues to grow its topline and expand its bottom.
Q: How long do you expect this rally in gold to continue? It's gone on from strength to strength at USD 1,170 an ounce now. As a house, would you bet on gold even at these levels?
A: As a house, we do not have a particular view. It obviously has a limited impact on most corporates certainly here in India. I personally have been a gold bull for a long time. And from my perspective, I certainly think gold continues to move up from here.
