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Axis AMC’s Chandresh Nigam on demand outlook and whether US elections are a market risk

Updated : October 26, 2020 02:55 PM IST

When the market rebounded sharply from its March lows, many investors were caught off-guard given the economic turmoil caused by COVID-19.

But Chandresh Nigam, MD and CEO of Axis AMC, believes that the market’s bounce-back signals that stocks are pencilling in high single digit or double digit growth for the next two-three years.

Nigam’s Axis AMC manages some of the industry’s best-performing funds. Nigam himself managed or oversaw funds for about two decades.

“The outlook for frontline stocks looks very good, which will keep markets supported,” Nigam told CNBC-TV18.

When asked if the US elections were a market risk, he said the massive stimulus plans announced by the government would be a growth driver irrespective of who wins.

In the near term, he said the market’s performance would depend on the demand situation.

“I am fairly optimistic about demand. I don’t expect demand to come off sharply. But it is not clear whether the recovery is due to pent-up or normalisation demand,” he said.
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