Manulife Investment remains bullish on Indian market; Says no massive correction anticipated

Manulife Investment, a prominent investment management company, indicated that it doesn't anticipate a significant correction in the Indian stock market. A market correction refers to a temporary decline in stock prices or market indices after a period of sustained growth.

In an interview with CNBC-TV18, Rana Gupta, Senior Portfolio Manager and India Equity Specialist at Manulife Investment Management, shared his views on the current state of the Indian equity market, providing insights into the expected trends and prospects for investors in the region.

He said, “We expect the Nifty to spend some time consolidating before it digest gains. Overall, the fundamentals remain strong and therefore, we do not think that there will be a huge correction. It will be more like time correction. The market consolidates in a tight range and digest its gains before moving forward.”

Talking further about Nifty, India's benchmark stock market index, one of the key points that Gupta emphasised was his expectation that it is likely to remain rangebound. A rangebound market refers to a situation where the index or stock prices fluctuate within a relatively narrow price range.

Highlighting potential opportunities, Gupta revealed that Manulife Investment will concentrate its efforts on emerging markets and, notably, on Indian markets. The decision to focus on these regions is underpinned by the positive outlook on their fundamentals. Emerging markets often display substantial growth potential, while the Indian market boasts robust economic indicators and favourable demographics.

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