SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD JUN 04
MCX SILVER MAY 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD JUN 04
MCX SILVER MAY 05
MCX CRUDEOIL MAY 19
MCX NATURALGAS APR 27
USD/INR
EUR/INR
GBP/INR
JPY/INR

Closing Bell: Sensex ends 244 points lower, Nifty below 14,300 dragged by IT stocks; broader markets outperform

Asian shares at highest since early March, weak dollar boosts commodities

Oil holds near one-month highs as demand forecasts raised

Rupee rises 23 paise to 74.64 against US dollar in early trade

Market may consolidate or pause for a while; direction remains bullish: Pankaj Murarka

Updated : March 31, 2021 03:03 PM IST

Pankaj Murarka of Renaissance Investment Managers discussed the fundamentals of the market.

"The market might consolidate or pause for a while. However, the direction or the trend of the market remains intact that we remain in a bull market,” he said.

According to him, the growth outlook for India remains pretty strong. “It took us 10 years to double Nifty earnings between 2010 and 2020 and we will achieve the same in the next three years if you take 2021 as a base. So Nifty earnings will double between 2021 and 2024. Given that outlook, the market should continue to do well,” he explained.

He is bullish on consumer stocks. “I think once the second wave of COVID-19 tames down, probably over the next couple of months, things would recover pretty quickly. The exhibitors like PVR or Inox or the hotel industry or hospitality or the consumer discretionary all of them will bounce back pretty strongly. Towards the second half of the year, we will see a very strong resurgence in consumer spend and consumer demand. So we are very bullish on all these names,” he stated.

Murarka believes Q4FY21 is going to be a strong quarter for all the IT companies. His outlook for the IT sector continues to remain strong and he expects further earnings upgrades in the sector. “We will continue to have earnings upgrades for the IT sector going forward,” he pointed out.

For the full interview, watch the video.

Published : March 31, 2021 03:02 PM IST

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