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Samvat 2069 - FM Views

| 11/2/2012 12:23 PM Friday

After a long phase of volatility and trading with a downward bias, the Indian market as finally reversed its course. With the new trading year about to begin (Muhurat trading marking the beginning of the new Samvat), investors would want to pick up the right cues to plan their stock market investments for the ensuing year, so that it turns out to be a prosperous new year for them in letter and spirit. If FIIs are supposed to be the strongest force in the Indian market, the homegrown Mutual Funds industry is not too far behind. Big money drives the market, and Mutual Funds are the second biggest investors in the market. Their conviction or the lack of it in the strength of the market can affect its performance. Therefore, it pays to know the mood of fund managers going into the new year. Here, we present the views of fund managers of the top Mutual Funds, which should help you plan your investments effectively going ahead.

Anup Maheshwari, Executive VP Head Equities & Corporate Strategy, | DSP BlackRock

What should be the Equity Strategy till next Diwali?
Should the Government continue the reform process, interest rate sensitive and cyclical sectors will be the biggest beneficiaries. We have increased our weight in Financials, Autos and the Capital Goods sectors. We expect the RBI to cut interest rates in the next two–three months which will benefit these sectors. The Capital Goods/Industrials sector has been a laggard over the past two to three years on account of a slowing economy, lack of infrastructure spending and other issues related to mining, land acquisition and fuel availability. However, with the recent announcements by the Government and the intention to resolve these issues, this sector could be the biggest beneficiary. Reduction in interest rates in the system will be positive for all the sectors mentioned above.

What is the Sensex level that you are expecting till Diwali 2013?
We expect earnings to grow in a range of 13-14 per cent for FY 2014 and believe that the market has the ability to deliver a ~15 per cent CAGR over the next three to five years. Recent initiatives by the Government to revive the economy coupled with interest rate cuts will drive the next leg of growth for the Indian corporate sector.

Which are the sectors you think will be in the limelight and why?
Financials, Consumer Discretionary and Capital Goods could do well should the RBI cut interest rates in the next few months.

 

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