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Long-term invt should start cherry picking now: Experts
Published on Tue, Jul 08 at 15:08 , Updated at Wed, Jul 09 at 16:45
Source : CNBC-TV18
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Global cues wreaked havoc with market sentiment and the indices got off to a dismal start. Short covering post the Left pull out helped the markets wipe out some of the early losses. The Nifty closed at 3,989 down 41 points, while the Sensex shut shop at 13,350 down 176 points.
Mehraboon Irani, Vice-President PMS, Centrum Broking, feels it is the best time for investors to buy. "One should be very stock selective. There are companies within sectors which are available at very attractive valuations. They are relatively immune to most concerns as they don’t have a great capex programme and don’t need to go to the capital or debt market to raise money. Those companies should be bought by savvy investor right now. Over a period of time, this investment is going to ultimately yield lovely returns."
According to Irani, the markets would eventually fall. "Some stocks and sectors, which are relatively immune to concerns that we have right now, have taken a beating for no fault of their, so sooner or later valuations will play a very important role. Stock picking has never been as important as what it is going to be now. Money making ahead is going to be very difficult."
According to Kotak, accumulation at every decline should be the strategy for long-term investors. "Investors looking to build a long-term portfolio should take small exposures at every decline. However, they should be prepared to look at further downsides." He expects the Sensex to fall by another 10% from current levels.
According to Maheshwari, if the government survives this fallout, it will be in a position to take stronger measures. "So, some reforms, which has been stalled for the last three-four years, could come in the next seven-eight months. That would be a trigger for this market to recover a bit."
According to Bose, the markets are trading rangebound. "Investors should refraining from trading and rather watch from the sidelines."
According to Bhambwani, volatility is likely to be above average, so the price moves would be larger. "Between here and 3,848 there are some minor inflection points, but I wouldn’t read too much into them. 3,910 is a small support level. If it closes below 3,910, then the likelihood of 3,848 holding tomorrow morning stands up marginally higher." |
He sees a sharp bounce back in the markets once the nuclear deal is signed.
Kamlesh Kotak
Rajat Bose
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