Indian stocks languished on Thursday amid mixed global cues and slew of corporate earnings back home. CNBC-TV18 spoke to Madhav Dhar, managing partner of GTI Capital Group, to get a sense of where markets are headed and his views on valuations.
“I tend to be little contrarian and early and we are setting up for some kind of low here both in the S&P and in India particularly which has seen more violence especially in its dollar price of the underlying Sensex,” Dhar said on Thursday.
“I think the economic cycle around the world isn’t over, the US economy is still very strong and you will have one last leg up in the market and it is probably too early to pack it in,” he said.
Talking about India stock valuations, Dhar said, “India is in a slightly different cycle, you could argue even a better cycle, early in the cycle whereas the US is still late cycle. So all in all technical, valuations and prospects are looking better.”
When asked about the capital goods sector, he said, “I do not want to comment on specific stocks but I like the area in general. I think that is where the growth is going to be over the next two-three years and like everything else its better value now than it was. So yes, I like the entire space because the infrastructure area is accelerating.”
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First Published: Nov 1, 2018 11:11 AM IST
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