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L :0
W :353
L :0
W :92
NDA :353
UPA : 92
LOK SABHA ELECTION RESULTS 2019
Total Constituencies
543
Voter Turnout
67.11%
NDA : 353
2014 : 354 Seats
BJP
303
+
SS
18
+
Other
32
UPA : 92
2014 : 66 Seats
INC
52
+
DMK
23
+
Other
17
OTH : 97
2014 : 107 Seats
TMC
22
+
YSRCP
22
+
Other
53
VIDEOS
Market

Rally in Indian market part of global bull market; high crude prices a big risk, says Atul Suri

Updated : March 18, 2019 11:38 AM IST

Atul Suri, CEO-PMS, Marathon Trends, is of the view that we are in the middle of a massive global bull market and the rally seen in the Indian market is a part of that global move. India had been a marked underperformer even 15 days back and is now playing catch-up, he said.

According to him, the Dow is very interestingly poised and may notch a fresh record high in near-term and the best trade of the year would be the emerging markets (EM).

“One will see a big catch-up rally in the EMs and that is why one is seeing this record foreign institutional investor (FII) flows into India,” he said, in an interview with CNBC-TV18. “This is part of a tsunami that is happening globally.”

He said one should not get obsessed with pre-election rally because elections could lead to multiple outcomes. “One could see short-term volatility, and market going up and down but the bigger trend is global,” he said.

“One needs to take a leap of faith on Indian equities and believe in bigger trend because one can never time to the last 100-200 points on the Nifty,” said Suri.

He said the important factor to look at is what is happening to US bond yields and that is where the big story is.

“I am a trend follower and I will be were trends are and that is in financials,” he said.

According to him, the biggest risk for the market remains crude. The market currently is ignoring the rise in oil priced because of a huge tide of liquidity, he said. The Brent crude is likely to move to USD 70 per barrel, he said, adding that as long as it remains at manageable levels, the market can shrug it off.

With regards to autos, he added, the charts are still not impressive and recovery may take some time. However, two-wheelers see better traction than four-wheelers, he said.
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