"Global markets have been attractive and supportive. Domestically, anecdotally as well, as hard figures are suggesting that more financial savings have been deployed in to equity through the mutual fund and various routes, which is driving the market at this time," Dipan Mehta said.
Jim Walker of Asianomics is worried about the rising consumer prices and how they may affect the market. As consumer prices pick up, the policy makers, he said, will be forced to tighten policy while economic growth rises.
The 50-share Nifty has had a phenomenal rally over the last eight weeks but Gautam Shah, Associate Director Technical Analyst at JM Financial feels âmarkets are now at a major inflection pointâ. He sees little possibility of indices hitting life time highs in the current run.
The buy back announced by Tata Consultancy Services is a very good start for the IT sector to return surplus cash to the investors, while also improving the return on earnings (RoE), says Nilesh Shah of Envision Capital.
Even as the optimism around India is quite high, foreign investors are treading cautiously, choosing to wait for fourth quarter earnings before taking investment calls, says GV Giri, Head of Research at IIFL Institutional Equities speaking to CNBC-TV18 from the sidelines of the 2-day IIFL Enterprising India Conference.
Speaking to CNBC-TV18, market expert Ashwani Gujral said that Nifty is only 100 points away from its previous high, which it should cross in as Bank Nifty is maintaining above its previous highs, it is only a matter of time that Nifty follows suit.
Considering Trump's policies may drive up growth and consequently the demand for IT services in the US, it would do well for Indian IT companies to start producing some of their services there and spruce up local hiring, says John Praveen, the Chief Investment Strategist at Pramerica International Investment Advisors.
Even though the sector has been a rank underperformer in the past, Indian telecom stocks are very attractive from a three-year perspective, according to S Naren, Executive Director at Chief Investment Officer at ICICI Prudential.