The NSE Nifty 50 and BSE Sensex will likely scale fresh highs by the end of the 2026 as growth recovery starts, according to Pankaj Murarka, chief investment officer, Renaissance Investment Managers. For next six-to-eight weeks, the Nifty 50 and Sensex will move in a narrow range, he said in an interview to NDTV Profit. The second half of this calendar year will likely be more steady.
"India is in a 'perfect goldilocks' kind of environment where the economy is growing at a healthy rate. Markets are neither overheated or extremely slowed down. It's somewhere in between. Given the sharp up move in last eight weeks, a consolidation would not be bad," he said. Right now, it is a good market for stock pickers. Investors can choose unusual names for a long-term, he said.
Pankaj Murarka, CIO, Renaissance Investment Managers was speaking to NDTV Profit Managing Editor Tamanna Inamdar.
IT Space Still Good For Medium-Term
The whole uncertainty around tariffs has lingered so large companies and global companies are holding back on discretionary spending because they are busy dealing with uncertainty around tariffs. As a result, the expected growth has got pushed back.
This is the fourth successive year where the discretionary spends are not happening. However, it is a matter of time until large companies restart discretionary spending. These spends are essential for IT companies to evolve their businesses. A stable macroeconomic environment is needed in the US. IT is a good space to invest in the medium term.
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