“Over the medium and long term is indeed constructive and India is at the cusp of a multi-year growth cycle led by capex, credit growth, consumption & corporate profitability,” says Devang Mehta, Director – Equity Advisory, Spark Capital Private Wealth Management.
In an interview with ETMarkets, Mehta said: “We like themes & sectors related to Credit growth, financials and Capital expenditure as well as Consumption could lead next leg of rally on D-St,” Edited excerpts:
Nifty hit 20200 levels and then we saw some bit of healthy profit-taking amid muted global cues. What is your take on markets for the medium to long term?
A bit of shake-out, when money-making becomes extremely easy, is a usual phenomenon in the markets. That said, such ebbs & corrections always act as cautionary notes and bring gravity to the proceedings.
However, is there a huge exuberance & euphoria in the market, the answer seems to be no. The view over the medium and long term is indeed constructive and India is at the cusp of a multi-year growth cycle led by capex, credit growth, consumption & corporate profitability.
Crude on the rise – rupee depreciated against the USD – does this worry you?
Rising oil prices are negative for India, which is the world's third biggest importer and relies on imports to meet around 85 percent of its fuel needs.
The triple whammy of rising USD, spiking US bond yields, and high crude continues to impact our economy & markets. The cues from the mother market US also are also not supportive.
When can
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