Stay Invested, Better Buying Opportunities Loom: Pankaj Murarka

Pankaj Murarka, chief investment officer at Renaissance Investment Managers, told NDTV Profit that macroeconomic headwinds, including higher crude prices, were a concern for the market. He expects the Nifty's losses to moderate by year-end, although he said he would watch how markets move after the US midterm elections against a backdrop of weakness in the US economy. Murarka urged investors not to panic. India's medium- and long-term fundamentals remain strong, he said, and the market offers many "durable growth" stories. He expects better buying opportunities over the next few weeks and said Indian equities could become attractive next year. Broad indices may not capture the opportunities available, Murarka said. Investors need to identify individual companies and stocks, with the balance of potential risk and return starting to move in their favour.