Invest fearlessly even if markets are at record highs, but think long-term: Madhu Kela

The exit poll impact was visible in markets on June 3 early trade. Benchmark indices Sensex and Nifty hit new life-time highs of 76,738 and 23,338, respectively.

Market veteran Madhusudan Kela has expressed optimism about Indian markets from a long-term view after majority of exit polls predicted a comfortable majority for NDA in 2024 elections. He said all factors horizoned perfectly for India - be it inflation, interest rates, tax collection, or GDP and suggested investors to not be afraid to flush in new money even if markets were at record highs.

"Even if you're new and considering investing with the Nifty at 23,000, don't be overwhelmed. Look at the markets with a long-term perspective, three years out. There's tremendous opportunity to buy if the positive backdrop continues," Kela said in an interview with CNBC-TV18.

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The exit poll impact was visible in markets on June 3 early trade. Benchmark indices Sensex and Nifty hit new life-time highs of 76,738 and 23,338, respectively.

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Kela described this period as 'Amrit Kal' for investors and said that everything would fall in place if investors are structurally positioned on Indian equities. "All macro indicators are in favour of India and it stands well-positioned against global counterparts. Even if valuations have run up in majority of sectors, I believe there is significant wealth creation opportunity in the next 3-5 years amid stable earnings growth," he added.

Among sectors, Kela favoured capex-intensive, manufacturing, chemicals, pharma, and select private banks due to their underperformance seen in the past 2 years. "Within the manufacturing space, I like forgings and auto ancillaries. On the other hand, India+1 companies would be a good bet from the pharma space," he underlined.

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Kela kept the trading mantra simple from  here on - position in right stocks with a long-term view and have the ability to digest intense volatility. "Focus on wealth generation instead of income generation," he stated.

Answering question on whether markets would see signifcant upside over the next 4 days, Kela said that there wouldn't be any significant downside.

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