This is a good time to be in the market and buy good quality companies as this is the market that can give good returns, said Shankar Sharma, a market veteran and Vice Chairman & Jt. Managing Director of First Global, in an interview with ET Now.
Sharma said this is a market one can trust to deliver and one should not try to micro-manage it.
"I think this is a market that you can trust to deliver the goods and I do not think we should be becoming too micro and saying okay should I trim this, should I exit this? Should I enter that, or should I rotate this?," said Sharma.
"If for the last six months, you have bought a quality bunch of 25-30 smallcaps, maybe 40 smallcaps, I am sure if people followed that simple advice, many would be sitting on substantial gains having erased the losses from November down until the lows of April, May," he told ET Now.
Sharma further said this is no time to micromanage. "One should buy good quality companies and if they are not performing well only then think of exiting them otherwise stay put in the trade," he said.
Sharma believes the risk is behind us and there will just be corrections here and there.
"I do not think there is any risk factor. Inflation was obviously a problem which we corrected substantially. I think that risk is now behind us. I do not think we are going to get major shocks on the crude oil front. I just do not see any major huge derailment risk for our current bull market. There will be, of course, corrections here and there, but every single dip from here on in India is an absolute and total screaming buy," said Sharma.
Sharma said Adani Group of companies may continue to surprise us on the upside.
"The Adani Group of companies have been an absolute surprise pack for almost every investor and given the FPO that they are going to be doing, a lot of the issues will be addressed in terms of their leverage and all that, provided you are comfortable with the valuations. Many people can choose to question that, but a number of them may well continue to surprise us on the upside," he told ET.
Disclaimer: This article is based on an ET Now interview, published by economictimes.com. The views and recommendations given in this article are those of the analyst. These do not represent the views of MintGenie.
