Of late, the benchmark indices have been witnessing unprecedented volatility. Domestic equity gauges Sensex and Nifty ended lower for the third straight day in a choppy session on Friday.
Ajay Bagga, market expert, Feroze Azeez, deputy CEO, Anand Rathi Wealth and Swarup Mohanty, CEO, Mirae Asset Investment India caught up with Sakshi Batra on the BT Budget Brainstorm for a chat on the market outlook, new age internet companies, sectoral themes, crypto tax and much more.
"It is a good time to buy right now. India is growing fast and will be in the top 3 economies in the next 10 years," said Ajay Bagga, Market Expert.
"Individual investors don't make more than 30-50 per cent of the market return because they try to time the markets. Inflation might be controlled by the end of this year. Geopolitically and monetarily, both the fears are heavily overblown. We will stay invested and not try to time the markets," he added.
Sharing his sectoral bets, he said that banks, auto, real estate, cement and building material sectors will do well going forward. Go with small-cap funds; small cap & mid cap will outperform, he added.
Feroze Azeez, Deputy CEO, Anand Rathi Wealth highlighted Equities have the potential of delivering 12-15 per cent return over the next 8-10 years.
Swarup Mohanty, CEO, Mirae Asset Investment India said, "Investors need to fix a goal for themselves. Every asset class behaviour has changed over the last 5-7 years. It is a great time to invest in the Indian market."
Commenting on the new age internet companies, Ajay Bagga suggested that investors should not be too tough on themselves. Get out of any investment you're not comfortable with and ride the fastest horse that you think, he said. Otherwise, investors with a long-term view should hold the particular stock.
"It is very unsettling to buy some company which has still not made profits. The stock price will correct to the right valuation. Fund managers do a better job in picking those companies rather than individual investors," said Feroze Azeez.
When asked about the take on taxation of cryptocurrency, Bagga said that crypto is an asset not currency. FM has made it clear that the government has taxed it but not legitimised it. Government should bring it into the mainstream and make strong regulations for it.
Feroze Azeez has a negative take on crypto. "For me, it neither fits as an asset nor as a currency. I would like to stay away from crypto," he said.
Swarup Mohanty also emphasised that there should be a proper regulation for crypto to avoid its misuse.
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