The domestic equity indices hit record highs this week, as investors turned hopeful of an earlier-than-expected unlocking of the economy amid falling daily Covid cases and a likely revival in vaccination drive.
Globally, central banks have been playing down inflationary concerns and are assuring financial markets of continuous support. The RBI is also calling for a calibrated unwinding of stimulus once the pandemic waves are flattened. Corporate earnings for the March quarter have been comforting by and large, making investors wonder whether the ongoing rally has more legs.
Amit Mudgill of ETMarkets talked to Shrey Loonker, the Senior Vice President – Fund Manager, PMS, at Motilal Oswal to know his views on the market and emerging investment themes.
Loonker, who oversees Motilal’s 17-year-old Value Strategy PMS, said the ongoing bull run has legs and advised investors to use any short-term volatility to buy stocks.
Welcome to the show sir:
>> BFSI accounts for over half of your portfolio in terms of weightage. This is against a third weightage Nifty and Sensex give to the sector. What makes you so bullish on this pocket?
>> Yours is a largecap oriented-fund and Nifty50 hit an all-time high this week. Do you see enough opportunities left within the largecap space?
>> Defensive sectors have been underperforming cyclicals of late. Do you see this trend continuing in the coming years?
>> What is your take on discretionary pockets? Do you see a case of ‘revenge buying’ as and when the economy reopens fully?
>> What would be your advice to investors? Do you think this bull run has legs?
Thank you, Mr Loonker, that was indeed a very insightful conversation.
That’s it in this week’s edition of the special weekend podcast. Do come back next Saturday for this weekly special. You can check out our regular podcasts on the equity market twice every weekday.
