India Now Costliest Major Market But New Highs Possible This Fiscal: Nischal Maheshwari

Market master Nischal Maheshwari said India has erstwhile again go nan costliest awesome marketplace crossed nan world successful position of valuation. "Yes, it came down a spot and valuations became absorbing but erstwhile again nan rallying has go beardown and we are yet again astatine 24,300-24,400 levels. Now we person to hold and spot really nan net cookware retired successful nan 2nd half of nan quarter. I deliberation nan first half could stay muted and nan 2nd half is wherever we expected net would beryllium stronger," he told Business Today connected Wednesday.

Despite highlighting nan Indian market's costly valuation, Maheshwari believes home benchmarks whitethorn deed caller highs successful nan ongoing financial year. "Given that nan US dollar is already depreciated and nan emerging marketplace (EM) currencies are unchangeable aliases appreciating against nan dollar. So, a weakening dollar ever drives money backmost into nan emerging marketplace and that's why we are seeing flows coming backmost to nan Indian market. I deliberation these flows will continue, evidently not successful a wide measurement but decidedly successful stocks wherever nan valuations are comfortable. I would not beryllium amazed if we spot a caller precocious successful nan Indian marketplace during nan existent financial year," he stated.

The marketplace seasoned expects BFSI (Banking, financial services and insurance), IT and home consumption-driven sectors to execute good going ahead. "BFSI is 1 of nan sectors that will execute and there's nary uncertainty astir that. It's clip to commencement building up positions successful nan IT sector, fixed that its valuations are beautiful down and maturation still continues to stay robust successful nan US. I for illustration home depletion arsenic its valuations are a spot charismatic to us," he stated.

On nan stock-specific front, Maheshwari picked Tech Mahindra and Infosys from nan large-cap space. He liked Coforge from nan mid-cap segment, citing its outstanding capacity 4th aft 4th and beardown guidance.

The master advised sticking to nan backstage players successful nan BFSI space. In nan home depletion theme, he suggested looking astatine nan automobile counters. "I would commencement looking astatine FMCG companies, peculiarly staple ones. In nan past quarter, we person started seeing maturation successful wages, particularly for nan unorganised and agrarian workers, which has started improving. And, staple depletion is highest location arsenic agrarian and unorganised assemblage workers almost walk astir 30 per cent of their income connected food, whereas spending is not much than 15 per cent successful nan organised assemblage workers. That's why I judge it is now clip to accumulate staple (basic FMCG) but 1 needs to beryllium very peculiar astir banal action and valuation," he explained.

Published on: May 7, 2025 3:40 PM IST