Better market breadth ahead: Ramesh Damani

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Better market breadth ahead: Ramesh Damani

Member of BSE, Ramesh Damani would like to see better market breadth, going forward. He believes that commodities are in a long-term bull market.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Challenge's to get more first time investors: Damodaran 15K or correction: What next? How have Indian GDP numbers fared? Caution, excitement, greed: Good mix of sentiments for mkts Hits of Indian equities in 2006 ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news ICICI Bank | Pantaloon Retail |

Member of BSE, Ramesh Damani would like to see better market breadth, going forward. He believes that commodities are in a long-term bull market.

He further said that he is most bullish on the domestic consumption theme and very bullish on the Indian media sector.

As CNBC-TV18 celebrates Seven years of business leadership, he offers his best wishes for seven more prosperous years to come.

Excerpts from CNBC-TV18's exclusive interview with Ramesh Damani:

Q: How do you feel seven years down the road because you were a part of the journey when we started 7 long years back?

A: Ofcourse I was a part of the journey and it has been a fabulous journey. In order to pay tribute to your 7 years I quote an English essay novelist and critic, Samuel Johnsonn, who once wrote that there are two kinds of knowledge- a) when you know the subject matter yourself and b) when you know where to go to find information on the subject matter.

For 7 years CNBC Indian investors have tuned in to CNBC-TV18 to find out what's going on in Indian financial markets and so congratulations for a great 7 and best wishes for 7 more.

Q: How do you feel about this journey because 7 years back we were just getting into a big technology run, then we had a big burst and a lot of people don't seem to have got to participate in this phenomenal run of the last 2-3 years. How do you gauge public sentiment, retail participation and where we are poised right now in this move?

A: It's a pity; I think people who were burned by the two previous booms and busts that took place in 1992 and 2000, believe that the past is prologue and they were driving looking at the rear view mirror. I think the bulls in India still now firmly believe that having crossed May 2004 when the market collapsed, October 2005, when the midcaps collapsed or May 2006 when there was another meltdown in the market that India is the Japan of the 1960's, that we are in this long run secular bull market and like the Japanese country went from a third world country to a G-5 nation, maybe India is on a similar trajectory.

Atleast the bulls firmly believe that. Increasingly the evidence seems to suggest that; whether it is India signing a nuclear power deal or whether India selling 4 lakh Nokia mobile phones a day, the evidence is pointing towards the fact that the country is coming to its own.