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Top 10 large & midcap stocks which could generate wealth in next 2-3 years.
The valuation of mid & small caps continue to be at the premium side, so broadly they are unlikely to perform well compared to what we experienced in FY18 and also to largecaps in the coming times.
We advise a candid expectation on the market while the timing of entry & exit will be important in FY19, Vinod Nair Head of Research at Geojit Financial Services said in an exclusive
We can expect a fair start to the fiscal year 2019 compared to the end we saw for FY18. The domestic chaos will stabilize as the pressure of redemption will be over by the end of FY18.
But, high valuation, fall in credit growth, pre-election volatility and undergoing trade war will continue to hiccup the market. Hence, we can say volatility is here to stay.
We had a very conservative view on the market which we continue to hold on in spite of the 10 percent correction till date.
Our updated target for Nifty & Sensex is at 10,400 and 32000 for FY19, assuming one year forward P/E of 16x with 15% earnings growth till FY20.
Giving the rising interest rate scenario, valuations are likely to normalize; hence, crossing the last high seems difficult in FY19, caveats are an improvement in global bond yield, political outcome, and trade war.
Currently, Oil prices rose due to a spike in Middle East tensions (possibility of new sanctions on Iran) and fall in output from Venezuela due to the economic crisis.
Additionally, US crude oil inventories fell by 2.7 million barrels in the week ended March 16 to 425.3 million barrels compared to analysts’ expectations for an increase of 2.6 million barrels impacting the prices.
Further, an extension of OPEC & Russian production cut and escalation in geopolitical tension in the Middle East will tighten the market. However, we believe that increasing output from the United States,
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