2019 won’t be a year when you have to be bearish form day one, so we are going in bullish, said Samir Arora.
Samir Arora, founder of Helios Capital, spoke to CNBC-TV18 about his views on rupee, oil prices and how markets will likely behave ahead of this year's general elections.
"2019 would be a positively trending year although not a run-away year rally initially. It won’t be a year when you have to be bearish form day one, so we are going in bullish,” he said, adding that even 2018 hasn’t ended on a bad note.
Arora mentioned that the strength in the Indian currency is a big positive for foreign investors. "Also fundamentals like GST, stable currency, lower crude prices etc are good but there is an upcoming event that is the elections, which has led to volatility in the past and could lead to this time as well. So until that event passes it is unlikely that the market will celebrate before," Arora said on January 1.
Apart from elections and politics, one is seeing capex in a different form of companies buying distressed companies, said Arora. “If those that process has to work well then money will go into buying those assets, which is not effectively new capex per se but is making old capex more productive,” he said.
With regards to buying beaten up names, he said, "For us, it is a mix and match and may buy one or two beaten up names but that is not a strategy. It is diversification of different styles".
“In general in India and the world the themes that have worked well in big picture long-term sense, which is not being shaken in India at least is financials and consumer,” he said.Source: CNBC-TV18