"The fundamentals both in India and globally are improving," said Shah.
Led by shares of banks and metal companies, BSE Sensex and Nifty 50 hit fresh record highs on April 3 . Rashesh Shah, Chairman and CEO, Edelweiss Financial Services, spoke about whether this momentum will hold in the run-up to elections. He also shared his views and outlook on the top stocks and sectors.
"It is very hard to say whether the market is on top or not but I would say that the fundamentals both in India and globally are improving. The US Federal Reserve's pause in interest rate hikes was a big catalyst," Shah said.
"We have always been saying that the non-performing assets (NPAs) crisis will get cleaned up because it was almost like a time-bound thing. We are getting to the end of the NPA crisis," he said.
"Looking at all factors, I think things augur well. I must also say that liquidity is still slightly tight but everybody is hoping that if Reserve Bank of India (RBI) cuts rates and increase liquidity with forex swaps and other tools that they are using, the liquidity will improve once the election is over," Shah added.Source: CNBC-TV18