New Delhi: Investment guru Mark Mobius, who is bullish on India, expressed optimism about India’s benchmark Sensex surging to 1,00,000 by the year-end. Mobius, who is the chairman of the Mobius Opportunities Fund, the entity aims to invest a minimum of 20-30 per cent in India.
He aims to put a similar amount in Taiwan while putting 10 per cent each in China and South Korea. Mobius said he was also optimistic about the Nifty50 touching 50,000 or more by next year.
Semiconductors and mining are the way to go
Mobius said the chip industry is expected to develop rapidly in India. Fabless companies which design chips will be the way to go, the ET reported, citing Mobius. While mining may not be a very exciting sector, companies supplying the mining equipment may present an opportunity, said Mobius.
How India is catching up with China
The Mobius Emerging Opportunities Fund chairman said India was catching up with China. He added that the surge in Chinese stocks will ultimately benefit emerging economies including India, since a major chunk of this money is routed via indices. India’s market is catching up with China’s behemoth market, he added, reiterating that the Chinese bull run was in effect good news for India.
He said that the Sensex is likely to hit the 1 lakh mark by year-end provided SEBI’s rules do not dampen investors’ spirits. In an interview with CNBCTV18, Mobius added that the real estate sector held promise for investors since housing demand is expected to gather momentum going forward, especially, from lower- and middle-income households.
Why gold prices are on the rise
According to Mobius, gold prices are gaining momentum and popularity owing to heavy demand from India. He said the traditional importance of gold will continue to fuel the bull run for the yellow metal’s prices in India. He added that gold can be 10 per cent of an investor’s portfolio.
Investment guru Mark Mobius, who is chairman Mobius Emerging Opportunities Fund said he was optimistic about India’s benchmark Sensex surging to 1,00,000 by year end. Here’s why Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
