Sep 30, 2024 12:59 PM IST
Mark Mobius predicts Sensex could reach one lakh by year-end if Sebi limits derivatives, which would significantly impact the market.
Market investor Mark Mobius said that Sensex could touch the one lakh mark by the end of the year. Speaking to CNBC-TV18, he said that if capital market regulator Sebi comes out with regulations to limit derivatives activity, it could have an ‘unprecedented’ impact on the market.
Why can Sensex hit 1 lakh this year?
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Momentum in Indian stocks is likely to take Sensex past 1,00,000 mark ‘probably by end of the year’, he said, adding, “If Sebi comes out with regulations to curb derivatives activity, that would have a big impact.” But the measures will not be able to hold back the bull run in Indian stocks, he asserted.
China is the new bull market?
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Mark Mobius also praised China and said that a ‘new bull market’ emerging in China as Xi Jinping “has been saying that he wants to help small businesses, and it is a good sign that he is changing his stance.” He said that this could be be ‘positive’ for India as well as other Asian economies.
He also said that he is very much interested in India’s semiconductor story as serious global players enter the Indian ecosystem. He said, “Those will be interesting to keep an eye.”
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Will there be risk in investing in Indian stock market?
Mark Mobius said that there may be some risk but “I have always said, there will be corrections along the way in India that can be 5-10-15%, so expect that, but be ready to buy when it happens. It is a good idea to hold gold, may be 10% of portfolio. One of the reasons of gold’s price rise is the Indian buying.”
He remained cautious of India’s IPO rush and said, “It is not a good idea to pile in to the IPOs unless you are certain about the business.”
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