Last Updated: September 14, 2023, 18:29 IST
India has entered into a good phase of growth which will also improve the performance of the stock market.
Sunil Singhani says that FII investment will be seen more in the big stocks because they tend to be long-term investors. They invest in large equities which can give them good returns when needed.
NSE Nifty 50 has hit 20,000 points for the first time on September 11. There has been an increase of 13 per cent in the last six months. It was at 17,24 points six months ago. Looking at this development, Sunil Singhania, investor and founder of Abakkus Asset Manager said that there is nothing to worry about for the long-term investors in India. They will be getting good returns from their investments in this nation.
In an interview with CNBC Awaaz, Singhania reflected on the new feat attained by NSE NIfty 50 and said that soon the market will attain a new target. According to him, India has entered into a good phase of growth which will also improve the performance of the stock market. He also said that the number of Foreign Institutional Investors (FIIs) will also increase in the coming 2-3 years in India.
Mr Singhania believes that the potential of India’s economy can be well measured with its focus on growth. There have been many announcements made at the recent G-20 summit. “ We cannot make predictions based on immediate strength or decline in FII investment. FII investment in India will be very high in the next 2-3 years” added Singhania during his interaction with CNBC. He also said that at present, FII investment will be seen more in the big stocks because they tend to be long-term investors. They invest in large equities which can give them good returns when needed.
He also advises the FIIs to be cautious of the changing environment of the stock market. He says that if you look at the market from a subtle perspective then you will realise that there is an excessively positive environment in the share market of India right now. He suggests that investors be extremely careful about it. After considering the recent surges and increased valuations, it is important to be cautious of defence and railway stocks. He says that as far as these sectors are concerned, it’s difficult to say how and when this bubble will continue. Recently, the railway stock prices skyrocketed at NSE.
