Nirmal Jain
Chairman, India Infoline
How do you see the markets right now?
Markets are looking good right now and may consolidate at these levels. In spite of there being volatility and minor corrections happening, we do not see a major downside.
What sectors are you bullish on, and which sectors should be avoided?
Domestic consumption stories like pharma, FMCG and infrastructure companies into highway development look good. However, global cyclicals like metals and realty are sectors we are avoiding.
How do you see corporate earnings in the third quarter?
Earnings for the quarter would be much better and companies may show 15-20% year-on-year growth in their numbers.
How do you see retail participation in IPOs?
Though some recent IPOs have been aggressively priced, we have seen good retail participation in quality IPOs. We may see more retail investors coming into primary markets once they see 2-3 IPOs making money.
How do you see the markets from a year’s perspective?
Markets would continue to do well on account of foreign flows. Flows chase growth economies where returns are higher. We may see less volatility next year with a 15-20% upside in line with corporate earnings growth.
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