Markets Expert View: Stock Market Experts Views and Advice - The Economic Times
Kotak AMC's Nilesh Shah projects positive Nifty EPS growth for FY25-FY27. Urban consumption is expected to improve. Geopolitical risks are easing, potentially re-rating Indian valuations. FIIs are returning, supporting market flows. Focus remains on earnings, valuations, and macro improvements. Sectors like IT, cement, and consumer discretionary are under watch. Banks are a key holding, with a stock-specific approach advised.
We hope that business will be as usual now and see, of course, we being the long-term player, the mutual funds always being the long-term player, so we will not be looking at any trading opportunities, but yes, a big-big positive for the markets.
N Jayakumar of Prime Securities believes India is attracting substantial investment due to its strong foundation. He estimates significant HNI positions have been cleared. Institutional investors are consistently buying, preventing market dips below 24,000. Mark Mobius shows interest in Indian pharmaceuticals. A global shift away from US exceptionalism is occurring.
From a very negative environment we seem to be moving to a more constructive, positive environment in a very rapid speed. So, as things play out globally, it could have a positive impact on risky assets, mostly equities, etc, and could create some sort of corrections in gold, and other safe heaven assets.
N Jayakumar of Prime Securities deems the US executive order on pharma prices as unrealistic and anticipates legal challenges. He emphasizes the dominance of large pharmacy chains and their markups on generic drugs, suggesting that inefficient distribution, rather than price control, is the core issue. Reducing distribution costs is key to making drugs more affordable for consumers.
Mark Mobius discusses investment strategies amidst geopolitical tensions and market dynamics. He highlights India's potential, contingent on regulatory reforms, and identifies defense, IT, and pharmaceuticals as promising sectors. Mobius also notes Trump's influence on markets and the US-China dynamic, emphasizing the need for vigilance regarding trade agreements.
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Geopolitical tensions show signs of easing. Positive developments are seen in India-Pakistan relations. Progress is noted in US-China trade talks. The stock market is expected to recover. Trump's tariff approach may face resistance. Overall, the outlook is brighter after weeks of uncertainty. However, high US tariffs could slow global trade and GDP growth. The situation requires careful monitoring.
Also, Smart Beta and Factor – Based ETFs that use investment factors such as value, momentum, or low volatility for index construction rather than traditional market capitalisation, are garnering investor attention as well.
Porinju Veliyath of Equity Intelligence India notes the significant growth potential in India's travel and tourism sector, citing high demand and supply shortages, particularly in five-star hotels. Despite earlier pressures, Ixigo's stock performance has been resilient, attracting Veliyath's attention as a potential investment opportunity, though he clarifies he is not currently invested.
Just as the 90-day pause on Trump’s tariff plans brought some relief, fresh tensions with Pakistan have reintroduced uncertainty. History suggests such geopolitical flashpoints rarely cause lasting damage to Indian equities - be it Kargil, the Parliament attack, 26/11, or Pulwama.
Sandeep Tandon of Quant Mutual Fund sees India in a bull run. He notes a shift towards risk-on in India, contrasting with the US. Safety in Indian currency and macroeconomics drives this. FII flows are becoming constructive. Tandon favors domestic stories and generic pharma. He is bullish on infrastructure and the Adani Group.
For the Indian equity markets to go from strength to strength, there have to be stronger drivers. And that could be something that is missing. And if you accompany that with rich valuations, then that could set the stage for the upside prospects to be quite limited. So, there's a need to be really selective, increasingly so now than previously. That is the formula to get more returns out of Indian assets.
As the long-awaited India-UK Free Trade Agreement edges closer to finalisation, optimism is running high across key industries. Kim Lalli, Partner at international law firm Charles Russell Speechlys and head of its India Desk, calls the FTA a “game-changer” that is poised to unlock vast opportunities for cross-border collaboration.
Despite a red close for the Nifty, the market flashed signs of resilience with strong intraday recoveries across indices. Anand James of Geojit points out that the worst may already be priced in, setting the stage for a tactical bounce—especially in SMIDs and defence names.
As markets play through a mid-innings slowdown, Piyush Mehta of Caprize Investment builds his Dream 11 portfolio with a mix of aggressive openers and steady all-rounders.
Q4 earnings across sectors show mixed trends, with BFSI, agrochemicals, and alco-beverages performing well. FMCG and IT remain soft, but a broader recovery is expected from Q2 onward.
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