The Nifty hit a new high of 12,132 in the morning trade on November 26, but the index is not done yet. It could end the year close to 13,000 supported by optimism in global equities, say experts.
“I am bullish on global equities, but other European markets would also be not far behind. The year 2020 will be dominated by a global bull market. The space in the global bull market, which is struggling, is emerging market space and India is a subset of that,” Atul Suri, CEO-PMS, Marathon Trends, told CNBC-Tv18.
“But, as we move forward, we could see a catch-up trade as foreign money could again make its way back into markets, thanks to mean reversion trade in EMs. With respect to the Nifty, I see the index heading towards 13,500 in 2019,” Suri said.
Commenting on the macro triggers, Suri said even though the headline news was negative across the globe, the market continued to hit new highs.
It is important for investors to remain invested in markets and keep having faith despite the ups and downs.
“It is not about when the market has bottomed out or when you can time it. The reality is that no one can time the market. The important thing is spending time in the market,” Suri said.
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