ETMarkets Smart Talk- Equites likely to remain best-performing asset class in next three years: Nirav Sheth
“We expect equities to be the best-performing asset class during the next three years,” says Nirav Sheth, CEO, Institutional Equities, Emkay Global Financial Services. In an interview with ETMarkets, Sheth said: “We anticipate a long cycle for Capital Goods, as Manufacturing deepens, and Infrastructure investments continue to get traction” Edited excerpts:Markets at record highs amid global and domestic headwinds. What is your take? The volatility index reflects calmness rather than the nervousness that one alludes to, with the market achieving new highs.
Bull markets are, almost always, initially seen climbing the wall of worry — mostly reflected in the sub-optimal financial commitments from market participants; this is, in fact, good news for markets.What is the kind of impact you see on sectors after a PM visit to the USA? Do you think Make in India could get some additional boost? The PM’s visit to the USA — with an eye on access to critical technologies — is one more step towards the series of reforms that have happened over the past several years; we are only now just about connecting the dots. We are very constructive about deepening manufacturing in India — especially in sectors like Electronics, Defence, Railways, etc.
The two big enablers are well-templatised policies and the shifting geopolitical construct that favours India. It is an idea whose time has come.Where do you see the markets in 2H2023? Markets do not necessarily move in a linear fashion.
Our base case is that markets will grind higher in the second half, also supported by resilient economic growth and policy rate-cuts early next year. We expect equities to be the best-performing asset class during the next three years.Realty, Capital Goods indices
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