Get App
Moneycontrol

Co-Partners

Associate Partners

Last Updated : Jun 24, 2016 12:21 PM IST | Source: CNBC-TV18

It is a good chance to buy for investors: ICICI Prudential AMC

Defying other market experts, S Naren, ICICI Prudential AMC is of the view that the correction that is seen in the marekt, post the Brexit, is in fact a buying opportunity, which should prevail for a few more days.


Defying other market experts, S Naren, ICICI Prudential AMC is of the view that the correction that is seen in the marekt, post the Brexit, is in fact a buying opportunity, which should prevail for a few more days.


Historically, the market has always provided such kind of opportunities in May-August and investors should take advantage of these and buy into the market. This is not the time to move into cash, says Naren.


According to him the Indian economy's domestic oriented and not too intimately connected with the UK. Moreover, he says the equity market has priced in problems and so will price in this negative event as well.


When asked which spaces according to him were insulated from this shock, he says it could be the utilities, consumer stocks but one could also take a broad-based approach to the index over the next one week with an medium-term outlook.


He does not see a significant impact on Indian economy but in fact, a buying opportunity for long-term equity investors. 

For the entire interview, watch video...


Not sure which mutual funds to buy? Download moneycontrol transact app to get personalised investment recommendations.

Get Lok Sabha 2019 Live Election Results, constituency-wise tally, news, views and analysis
Follow our Lok Sabha Election Result Live Blog here.
First Published on Jun 24, 2016 12:08 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant