Speaking on the Budget expectations, Mihir Vora said that the Street will watch out for the big number on the fiscal deficit.
While the market soars to fresh records, almost on a day-to-day basis, one of the key challenges lies in finding value in the right segment.
In fact, according to Mihir Vora of Max Life Insurance with economic cycle and market cycle not being in sync, it is tough to take a call on the stage of the bull market we are currently staring at.
What should investors do in such a scenario? “Most of our portfolios are biased towards largecaps now,” Vora, Director & CIO, Max Life Insurance told CNBC-TV18 in an interview.
Speaking on the Budget expectations, Vora said the Street will watch out for the big number on the fiscal deficit. “Government borrowing programme is very important from this perspective as well. Bond markets continue to be nervous on RBI stance as well, which has been hawkish. Secondly, it is also looking at whether there is any tinkering in capital gains (tax),” he told the channel. Having said that, a positive surprise could be a bigger tax collection and better divestment scenario, he added.
On a sectoral basis, he was upbeat on the metals space last year. He is now waiting for further actions by the Chinese government post winder season. “It is a bit of a frenzy out there. A fresh call on metals will be seen after a new set of measures or unwinding of the shutdown announcements happen by China,” he told the channel.For entire interview, watch accompanying video.