homemarket NewsCOVID 19 vaccine a short term noise, Nifty Bank driving market moves for last 1 month, says Shankar Sharma of First Global
COVID-19 vaccine a short-term noise, Nifty Bank driving market moves for last 1 month, says Shankar Sharma of First Global
For the last 30-35 days Bank Nifty is up 16-17 percent driving the market moves, said Shankar Sharma, vice-chairman and joint MD at First Global in an interview with CNBC-TV18.
For the last 30-35 days Bank Nifty is up 16-17 percent driving the market moves, said Shankar Sharma, vice-chairman and joint MD at First Global in an interview with CNBC-TV18.
“Since November started, it has been almost a one-man army and that is Bank Nifty,” he added.
“The market is up about 6-7 percent. The Bank Nifty is around 35-40 percent of the Nifty. So almost the entire move, in fact a little bit more than the entire move of the Nifty in the last 30-40 days is attributed only by one industry, which is banks,” he said.
In terms of Pfizer’s COVID vaccine, Sharma said, “Vaccine is a short-term noise.”
According to him, emerging markets (EMs) have started to outperform after 10 years.
“EMs were the forgotten equity class in the last 10 years. I think that is changing gradually in front of our eyes,” he further mentioned.
Sharma believes that Indian IT companies are very well managed companies.
“We own quite a bit of these name. We are very comfortable with these companies right now. They are doing well so far,” he said.
For more, watch video
(Edited by : Anshul)
First Published: Nov 11, 2020 5:15 PM IST
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