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Equity Market & Nifty Index - AxisDirect
Mr.ArunThukral, MD & CEO, Axis Securities
Jan 29, 2018 | Source: ET
Nifty Crosses the 11,000 Mark
It has been a great journey to 11,000; the markets are celebrating the long-awaited earnings revival. Despite the low base, the quarterly results so far have been encouraging; be it banks, FMCG, consumer discretionary or IT, almost all have delivered ahead of expectations. The management commentary too has been positive and the consumption-led demand is back on the track. The fund flows from both domestic as well as foreign institutions have been positive. The quantum of funds infused through SIPs is rising every month. The formalization and financialization of the economy following the structural reforms that were undertaken over the last couple of years are shaping up. The structural reforms have fortified Indian economy by plugging leakages, improving the tax base and compliances.
Barring few overhangs like crude oil at 2 years high, inflation at the upper end of RBI’s comfort zone, slight slippage expected on fiscal front in the forthcoming budget, and probable geopolitical risks, we continue to remain bullish on Indian economy and equity markets over the next 3 to 5-year investment horizon. Given the potential and the growth trajectory, Indian markets have a long way to go. Owing to the sharp rise in the index, we would advise our clients to undertake more due diligence and keep invested in quality stocks.
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