ASK Private Wealth On Indian Stock Market: Indian equity benchmarks were under pressure on Monday, with the BSE Sensex tumbling 1.42%, or 1,048 points, to 72,847.43, while the NSE Nifty50 declined 1.38%, or 330 points, to 22,822 so far.
Amid the market weakness, Vinay Jaising of ASK Private Wealth said earnings momentum is moving faster than stock prices, while pointing to stronger domestic consumption growth and stable liquidity in Indian markets.
Jaising said markets are currently talking more about large-caps, while mid- and small-caps are performing better than large-caps.
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The Nifty Midcap 100 was down 1.36% at 60,080.70, while the Nifty Smallcap 100 declined 1.41% to 19,438.25.
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Vinay Jaising On Indian Stock Market Outlook
Jaising said liquidity is quite stable in Indian markets and domestic consumption growth remains higher.
He also said India is likely to see two rate hikes in FY27. Higher oil and gas prices, meanwhile, are causing heavy outflows, according to Jaising.
Jaising expects positive news in the later half of FY27.
Vinay Jaising On Defence, Financials, Energy Stocks
Jaising said he remains positive on the defence sector despite the pessimistic market environment. He is also positive on financials and defence counters.
At the same time, Jaising said he is underweight on energy, realty and large-cap IT companies.
Vinay Jaising On IPOs
Jaising said, “We are looking to invest in IPOs.”
He also highlighted that earnings momentum is faster than the stock price, providing his view on the relationship between corporate earnings and market performance.
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