The only thing that can push the market to a level of 70,000 (on the BSE Sensex) is foreign investors flow or an end of the Russia-Ukraine war, believes Vijay Singhania of TradeSmart.
However, uncertainties abound, especially with the coming winter and stoppage of gas flow to Europe, the growth uncertainty in China with its banking system witnessing an unprecedented crisis is adding to the market anxiety, the TradeSmart chairman shares in an interview to Moneycontrol.
The chartered accountant with an insight of over 30 years in the industry believes that given the strong growth rate in India but uncertainty globally, the consumption, especially domestic consumption, continues to be a safe play. Most companies in this sector have low levels of debt and decent cash flow which can help survive the uncertainty, he says.
Excerpts from the interaction: