Despite the current downturn, Rakesh Jhunjhunwala believes the stock market rise would continue. Investors should not be influenced by minor market declines, according to the ace investor. Jhunjhunwala also stated that the economy’s inflation is just transitory, and that the market rally would not be harmed by rising prices.
In an interview with CNBC-TV18, Jhunjhunwala remarked, “Investors should not be afraid of the market as a whole only because of modest declines.”
After hitting a high above 15,900 last week, the Nifty50 is currently down 2%.
When comparing the present bull market to the 2004-2008 bull market, Jhunjhunwala believes the current rise will last decades.
When asked about the threat of coronavirus on the market, Jhunjhunwala stated that he does not believe a third wave of COVID-19 would emerge.
Following excellent Q4 earnings, this Jhunjhunwala stock increased by 8% today.
“Nobody foresaw the second wave, and now everyone is speculating about the third. I don’t believe the third wave will occur, as vaccinations are becoming more widespread and immunity is increasing. Furthermore, the economy is now better equipped “he stated.
Stock Investor Rakesh Jhunjhunwala also believes the economy’s inflation is just transitory,
The market expert, speaking on the current increase in midcap and smallcap stocks, stated that bull markets cannot be linear and that there must be corrections.
In response to a question regarding the recent increase in mid- and small-cap stocks and the possibility of a market correction, he stated that bull markets are not linear and that there is the possibility of a market correction.
After Q4 results, this Jhunjhunwala stock increased by 20%, reaching an all-time high.
The stock market guru is optimistic about India’s economy, believing that recent changes would have a long-term good impact.
“The economy is about to take off. We went through an NPA cycle and a slew of changes, including Jan-Dhan, IBC, RERA, mining, labour, and agriculture legislation reforms. India is on the verge of achieving strong and long-term economic development. The fundamental changes that are taking place in the Indian economy are becoming more apparent “Jhunjhunwala stated.