There is an outcry in the Indian stock market these days, but this situation is not going to last long. The Nifty index of the National Stock Exchange has the potential to create an all-time high record of 30,000 points in the coming days. Only one condition needs to be fulfilled for this.
Nifty currently remains between 23,000 to 24,000 points. It has fallen more than 1500 points in the last one month. Whereas this year itself it has made a record of reaching more than 25,000 points. Nevertheless, a big investor of the country believes that Nifty may soon touch the level of 30,000 points.
This investor has full confidence
Ramdev Aggarwal, co-founder of the country’s leading investor firm Motilal Oswal Financial Services, says that Nifty can reach a record high level of 30,000 points. All that is required for this is the return of the foreign portfolio investors (FIIs) who were taking investments out of the country.
Speaking in a TV channel programme, Ramdev Aggarwal said that India has a unique place in the world’s global stock market. Therefore, there is a good benefit of compounding when investing in India. Ramdev Aggarwal accepts that FIIs have recently withdrawn money from India, but it should be looked at in a different way.
Many times investors also invest in other markets of Asia such as China and Korea to diversify their portfolio. The fundamentals of India’s economy are strong. It has enough power to attract FIIs to invest back in India.
Ramesh Damani of D-Mart also agrees
D-Mart founder and big stock investor Ramesh Damani also agrees with Ramdev Aggarwal. According to an ET news, Ramesh Damani says that this is an opportunity to maintain the investments made in the stock market. Young investors should hold their investments at this time. If this is followed regularly, the benefits of compounding can lift an entire generation out of poverty.
