Bull market remains intact and will go on: Ramesh Damani

Market veterans Shyam Sekhar, founder of ithought and Ramesh Damani, member of BSE, spoke to CNBC-TV18 about how the markets are poised to perform in the election year 2019.

"From one bull market to another, the leading teams tend to change. Of course you have the evergreen stuff like consumption but there has been bull markets in which consumption has also done badly and there was an opportunity there," Sekhar said.

“If you see the current bull market, opportunities lies in basic industry and capital goods because they have not participated since 2008,” he added.

Talking about the current market scenario, Damani said, “Through the kitchen sink in the market we lost the elections, the Reserve Bank of India (RBI) governor changed, Dow was down and the minute all those events were over the market rebounded to 100 points – that’s bull market action.”

“Bear markets have signals when they start; we leverage in the system, a lot of happy talk in the market, everyone will be invested, everyone will be talking. We do not see any of that right now. Therefore, I think the bull market is intact and in opinion it still got ways to go," added Damani.

Source: CNBC-TV18