Several market veterans are advicing investors not to be deterred by the volatility and stick to asset allocation, as a host of sectors that had taken the sharpest knock in recent weeks look set to rebound when equity markets open on April 11.
Speaking at a panel discussion during the Mission Prosperity launch event, Ridham Desai, Head of India Equity Research and India Equity Strategist at Morgan Stanley, said that if you are willing to give up your monthly salary, then mutual funds can make you as wealthy as Rakesh Jhunjhunwala.
Retail investors are quietly lapping up stocks without ostensibly creating any noise and that indicates the market could be "in the midst of a very powerful rally", feels N Jayakumar, President of Prime Securities. He does not believe the market is "frothy" and sees a floor for the Nifty at 8,500.
Investors might be caught off-guard as spill-over of liquidity from a rampant bull market overseas could lead to big market move here, feels N Jayakumar of Prime Securities. Patient investors will certainly get good returns, he says.
It is now time to look at second-order derivative stocks and stocks/sectors that are not in focus, says N Jayakumar, President, Prime Securities.
N Jayakumar of Prime Securities says, the current level of pessimism can be a perfect scenario and may lead to a rally.
Nitin Mathur, Emerging Markets Consumer Research, Societe Generale, feels United Breweries and United Spirits are expensive, and that the problems in Nepal are a one-off risk for Dabur.
ITC, especially, saw heavy selling and it cracked over 7 percent on news of a 'sin tax' — rate of a steep 40 percent that would be levied on select items such as tobacco products. But N Jayakumar, president of Prime Securities says regulatory headwinds have always existed for ITC
On the government‘s performance, Akash Prakash, Director & CEO, Amansa Capital says the decision making by Prime Minister Office has been slow as there are a lot of things that the government could have done which do not require legislative change.
The market is trying to get out of current range but China's problems are getting bigger which will have its repercussions.
In the Indian context, with monsoons and a whole bunch of other things having reversed and prospects now of interest rate cuts coming through, the market is seeing levels even at 8100-8200 as attractive, says N Jayakumar, President at Prime Securities
The Sensex plunged 654.25 points to close at 27457.58 and the Nifty fell 188.65 points to 8342.15.
Market veterans Ramesh Damani, N Jayakumar and Raamdeo Agarwal had a special discussion on the sidelines of the Economic Forum for India at LSE and tried to gauge the direction of the Indian bull market.
India's ace investor big bull Rakesh Jhunjhunwala says he came to the market in 1985, but his first forward trade was in 1988.
Market veterans Ramesh Damani and N Jayakumar try to get some direct answers from the big bull Rakesh Jhunjhunwala in a rapid fire.
Since the market had a run up from 5,200 to 9,000, it is likely to consolidate at these levels in mid-term, says big bull Rakesh Jhunjhunwala. But there is nothing to worry until and unless Nifty moves below 8000.
Rakesh Jhunjhunwala, Ramesh Damani and N Jayakumar discuss the "irrational" valuations of the e-commerce space and liken it to 2000 dot com bubble.
The SEBI and the NSE on Thursday banned 26 entities from trading in the stock market. The decision came at a time when both the authorities are conducting an investigation on the trading activity of Gitanjali Gems and Prime Broking Company, a subsidiary of Prime Securities.
Badly bruised by weak sentiment and heavy foreign institutional investors' (FII) selling, Indian market is still licking its wound unable to attract investors. However, some experts see the second half to bring in better prospects.
N Jayakumar, president of Prime Securities says participation levels in the market are very low at the moment. According to Jayakumar, the GAAR clarification and crude oil prices cooling off will support markets in the near-term. He foresees a sharp correction in crude oil prices.
Participation levels are extremely poor and open interest levels in the market have come down quite dramatically, says N Jayakumar, president, Prime Securities.
Indian market seems to be returning what it had robbed investors off last year. With a strong rally, foreign investors too are following the Indian shores. However, N Jayakumar, president at Prime Securities feels that the market has not been able to capture the rise fully.
Nothing is going right for infrastructure companies at the moment. Yet, the levels to which the stocks have been beaten down, have made them attractive, N Jayakumar of Prime Securities, says in an interview to CNBC-TV18. Lanco, GMR and JP Associates are among the stocks that he sees value in.
N Jayakumar, Prime Securities is bullish on ABG Shipyard.
N Jayakumar of Prime Securities, in an interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee, feels that the market has been discovering different and new ways of making tops and bottoms. He also said that people are preferring commodities more than the stocks.