India’s stock market witnessed a stellar rally in the first half of 2021, with both the key indices, the S&P BSE Sensex and the Nifty 50, hitting record highs and lifting investor wealth by about Rs 40 lakh crore. The Sensex and the Nifty 50 rallied by about 10% and 12.4%, respectively. Naveen Kulkarni, chief investment officer at Axis Securities spoke to Money9 and shared insights on the way markets will behave in the second half of 2021.
He said that factors like earnings, volatility and cost of money are key to determine the way markets will move going forward. So far, corporate earnings have been strong which is a big positive. Even in FY21, companies had delivered 15% earnings growth in FY21 despite a wide expectation that earnings will fall about 20%. Even though the pace of market growth may slow down but we expect the Nifty to touch 17,300″
On the Q1 earnings, he believes that the auto sector will feel the heat of the second wave led lockdown but going forward if there is one sector that is likely to outperform over the long term say four or five years is commodities. The supercycle will continue for five years.
He also shared insights on how should investors approach the current IPO rush. Watch the entire video to know more.
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