IGI Logo

Below View On Sensex and Nifty By Mr. Sumit Chanda, CEO & Founder of AI-based investment advisory platform, JARVIS Invest

“Sensex & Nifty have delivered approximately 7% YTD (with almost 16% coming in last 6 months).

Stocks and sectors that have outperformed - Nifty has delivered 6.25% returns. Compared to us, Nasdaq is down by 30%, Hang Seng is down by 19% and FTSE is up by only 2%. We have fared far better than our peers have. The sectors contributing to this has included Banks, Consumer Durables, Auto, and Energy. The sectors, which did not fare well, included Real Estate, Technology, and Healthcare. However, given where the rupee is, and the Q2 results and their guidance’s, I expect Tech & Healthcare to make good recovery by end of this fiscal.

Commodities market- Silver has outperformed gold this year. The demand for the metal is high both from a precious as well as industrial metal perspective. This demand is expected to go up further. Gold on the other hand, has been disappointing. The returns have been muted.

Rupee- An aggressive liquidity tightening by the US Fed saw the rupee crossing the 82 per dollar mark. The weakness is expected to continue with the rising deficit and capital outflows. We saw a 33% growth in imports while the exports showed a lacklustre 12% growth this year.

Sensex is expected to hit 75000 mark and Nifty to cross 21000 in FY23. I have always been bullish on the “India” story and I am convinced that we are going to be biggest investment destination for the FIIs & FPIs in the coming year and the years to come.”

Above views are of the author and not of the website kindly read disclaimer