Indian stock market is a bit expensive but investors can still find individual stocks with value, says Herald Van Der Linde, Head-Asia Equity Strategy at HSBC.
HSBC prefers large cap stocks and picks financials, consumer, and information technology (IT) in the category.
He does not expect any big market rally from here anytime soon even though the macro as well as the market dynamics are fairly healthy.
“If the market trends higher, but not so fast, it's got to be individual stories. And we see this in other markets as well, Japan and Korea. It becomes increasingly on individual stocks where something is happening; you have so corporate action in certain stocks in India, that is where the action is going to be then,” said Van Der Linde.
Saurabh Mukherjea, Founder and CIO of Marcellus Investment Managers, also shared a similar view in his last conversation with CNBC-TV18 at the end of 2023. He predicted strong movement in large-cap stocks for a year or two.
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Mukherjea is hopeful about more money coming into India from other countries because more and more big funds are asking about investing here. "I reckon 2024 will be somewhere between $20 to $40 billion of foreign inflows."
For the entire interview, watch the accompanying video
(Edited by : Shweta Mungre)
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