Ridham Desai from Morgan Stanley & nbsp
Nifty, along with most of the world’s markets, is trading in and around the all-time high with strong returns of> 65% since the March 2020 lows. FII flows in Indian markets as well as other markets emerging were important. In November 2020, so far, FII has so far been net buyers everywhere with provisional purchases of> 35000cr on the 1st 1/2 of the month itself.
In an exclusive interaction with ET Now, Morgan Stanley’s Ridham Desai says India will remain in a bull market that started in March, and while corrections should be expected along the way, the stock market could have more legs before overtaking. Ridham says the new Sensex target for December 2021 is 50,000. He also expects the large small and mid-cap market to beat the narrow indices or large caps in 2021 because they believe the concentration of the cap market and earnings may have peaked with the return of the growth cycle.
Follow the full conversation with Ridham Desai on his latest report here: