Speaking to CNBC-TV18 Consulting Editor Udayan Mukherjee said that there is nothing one can do but to participate in this rally. The Nifty is close to its all-time high. â€œThere is no point in second-guessing the market because that is not how it works."
Speaking to CNBC-TV18 Consulting Editor Udayan Mukherjee believes that Axis Bank's poor numbers have been muted. He believes that in a different kind of a set-up, the bank would have fallen badly. The bank should trade below Rs 500, he said, adding that there are wrinkles in the bank and HDFC Bank's numbers.
After a year of consolidation, Indian equities are likely to continue to stay in a trading range, albeit with high volatility, believes CNBC-TV18 Consulting Editor Udayan Mukherjee.
CNBC-TV18 Consulting Editor Udayan Mukherjee on his thoughts over the likely Federal Reserve interest rate hike and why you should approach private banks only with "trepidation".
Udayan Mukherjee of CNBC-TV18 does not mince words while conveying that India is not insulated from global problems and worries that retail investors' patience may run thin in the days to come.
Udayan Mukherjee of CNBC-TV18 says the P-Note scare had affected market in the past and the government should tread very carefully. Poor earnings, impending Bihar elections, deadlock over GST and now the P-Note are all negatives that will push the market down.
CNBC-TV18 consulting editor Udayan Mukherjee believes the market has fully priced in a 25 basis points rate cut from the RBI on Tuesday and to move the needle further, a 50 points cut will be needed.
There is a possibility that the market may drift lower from the current levels, says Udayan Mukherjee. According to him, on the fundamental side, a â€œdangerous cocktailâ€ of poor earnings and steep valuations could have contributed to the recent correction
Given the run of play, for investors, it should be prudent to buy on sharp declines instead of chasing rallies, believes CNBC-TV18 consulting editor Udayan Mukherjee.
According to Udayan Mukherjee, there will be temporary bouts of correction in the market over the next five to six years but that shouldn‘t scare investors.
The Union Budget that Finance Minister Arun Jaitley presented may be a market neutral event and the ongoing rally would likely continue on hopes that a structural upturn in the economy is a few quarters away, CNBC-TV18 consulting editor Udayan Mukherjee says.
Market expert Udayan Mukherjee says experts are talking about the fiscal deficit and ease of doing business or strong framework for corporate India, but none of them are as critical as the steps the government will take in order to revive growth.
Udayan Mukherjee says the Budget is proving a strong support for Nifty, which is trading ahead of itself. He says a 200-300 points correction would have been just fair given the way the corporate earnings have disappointed.
Apart from financials like banks and NBFCs, Mukherjee is also bullish on manufacturing and capex-related companies. He believes a 25 bps rate cut by the central bank will benefit a couple of such companies going ahead.
China's outperformance against peers is getting more pronounced now. Foreign investors have made money both in India and China, so a portfolio shift from India to China seems to be the only worry.
Udayan Mukherjee of CNBC-TV18 said that retail investor had been coming back into the market after five or six years and added that a large section of investors who did not participate in the 2003-2007 bull run should now look to become a bit more courageous towards equities
CNBC-TV18's Udayan Mukherjee says it is heartening to see that the market, while it makes new highs almost every other day, is punishing stocks for faltering fundamentals.
On the global front, liquidity continues to be strong and volatility is low. Good news from the European Central Bank (ECB) in terms of rates can cheer global markets, CNBC-TV18‘s Udayan Mukherjee says.
Speaking to CNBC-TV18, Udayan Mukherjee says that the trade is beginning to catch on now. However, this is not the time to chunk out high quality from the portfolio just yet, he adds.
In fact, in the last 10 days, the market has had more than USD 600 million of FII money and that has been a huge sigh of relief for a market which was beginning to feel quite fretful once again.
Fiscal deficit target will be a major component that will be watched out in the Vote on Account on Monday
If the market forms a range of 5,950-6,300 in the next few weeks then midcaps and interesting largecaps will be the place to be in, Udayan Mukherjee said.
Currently, there are a lot of other things that people are focusing on like earnings, growth numbers, interest rates, elections, but I would urge people to look at the global setup far more closely, because answer to where the markets head in the current quarter at least is far more global in nature, says Udayan Mukherjee.
Engineering major L&T‘s Q3 earnings numbers, though came in pretty decent, do not warrant a stock re-rating at this moment.
According to Udayan Mukherjee, with lower-than-expected December retail inflation numbers of 9.87 percent there is a relief, but it is unsure whether that is enough to spark off a durable rally in the stock market.