Comment on New Market High by George Thomas - Fund Manager- Equity ,Quantum Mutual Fund
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Below the Comment on New Market High by George Thomas - Fund Manager- Equity ,Quantum Mutual Fund
Buoyant earnings trajectory along with a stable domestic macro environment have led to markets scaling new highs. Favorable corporate earnings cycle, stable policy environment and potential FPI flows could support markets in the medium term. Majority of the top 1,000 stocks (Sorted by current market cap) have recorded price returns that exceeded their earnings growth. Investors should exercise caution in select pockets where stock performance have exceeded the earnings growth by a wide margin. Considering the favorable environment, investors are advised to stay invested in equities in line with their long-term asset allocation plan. A disciplined value fund would be an ideal choice at this point due to its favorable valuation relative to the broader markets and potentially ‘higher for longer’ global interest rate scenario.
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