Markets To See New Highs, Say Experts
India can have a forward-looking approach, as it has the facilities to do so, said Emkay Global's Nirav Sheth.
The Indian markets could see greater highs given the indicators, even as the outcome of the U.S. Federal Reserve's two-day policy meeting is awaited, according to market experts.
Given the projections for fiscal 2026, it's just a matter of time that Indian markets will grow higher, according to Manish Sonthalia, chief investment officer of Emkay Investment Managers.
"While looking at the high-frequency indicators, there is not much of a negative surprise. Oil prices are at a comfortable level, inflation is a bit high but under control and corporate earnings are fine at 15% to 20%," he said.
India can have a forward-looking approach, as it has the facilities to do so, said Nirav Sheth, chief executive officer, institutional equities, Emkay Global Financial Services Ltd.
“It has taken years for India to set up its building blocks. It's presently very conservative about its fiscal positions, monetary policies and banking system," Sheth said.
India's benchmark indices settled largely flat on Wednesday, ahead of the outcome of the U.S. Federal Reserve's two-day policy meeting.
The S&P BSE Sensex ended 34 points, or 0.05%, higher at 69,584.60, while the NSE Nifty 50 was up 20 points, or 0.1%, at 20,926.35. Both indices fell as much as 0.65% during the day as traders booked profit.
Market participants exercised caution before the outcome of the Federal Open Market Committee's policy meeting, which is due later on Wednesday.
UltraTech Cement Ltd.'s share price crossed the Rs 10,000 mark on Wednesday. The company said that 80% of the energy they use will be green by 2030.
“India has given out details about its plans to achieve net zero emissions on multiple platforms. It's all about how well it's executed," said Sonthalia. “Many companies today have started to articulate it as they plan to move from fossil fuels to green energy."
Green energy is more cost-effective. Less dependency on other nations and government regulations and incentives will help speed up this process, according to him.
With increasing power demand, the current green energy expansion bull run is here to stay, said Sudeep Bandyopadhyay, group chairman of Inditrade Capital Ltd. He recommends NTPC Ltd. and Tata Power Co.
On the U.S. Fed's decision, Bandyopadhyay said there may be rate cuts by 75 to 100 basis points in the next calendar year by the first or second half.
“If the decision is positive, then there will be more buying of shares and the markets will go up. And if it goes otherwise, then markets will digest it and move on.”
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