New Delhi: Global investor Mark Mobius predicted that India’s benchmark BSE Sensex is likley to hit the 1 lakh mark before the end of Prime Minister Narendra Modi’s 3rd term. To be sure, Modi, who is the caretaker PM, has staked a claim for government formation and is likely to take oath with his Cabinet on June 8, 2024. The Sensex is likely to grow at a rate of 14-15 per cent over the next 10 years, added Mobius in an interview.
Mark Mobius on investing
Mark Mobius, who quit Mobius Capital Partners to focus on other pursuits such as entrepreneurship, investment and consulting in Dubai, said the best investing rule is to do what other people are not doing. “The best time to buy is when others are selling,” he said. Conversely, the best time to sell is when everyone is buying, the ET reported, citing Mobius.
The hype machine
Mobius commented on Generation Z’s fixation with mobile phones, which he calls ‘the hype machine’ adding that it bombards people with what others are buying and selling at all times. He added that people follow certain personalities on social media and they try to emulate these individuals that they follow.
“So you have got to be resistant tot this kind of enticement,” Mobius said, adding that “it is critical if you want to become wealthy.” If individuals spend all their money on frivolous things that lack long-term value “then you are not going to be wealthy,” said Mobius.
Mobius on Lok Sabha election results
Commenting on the market volatility that set in after the announcement of the Lok Sabha election results, Mobius remarked that it was unfortunate how the stocks of several infrastructure-focused companies tanked on fears that the unexpected verdict may put a spanner in the works for infra development. He said it was time to wait and watch what the Congress Party and others had to offer.
Investment guru Mark Mobius, the former chief and founder of Mobius Capital Partners, which operates assets exceeding $250 million, says that the benchmark 30-share BSE Sensex is likely to hit the 1-lakh mark during Prime Minister Narendra Modi’s 3rd term. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
