If one looks at 2021 for Dalal Street it was among the best year for Indian shares in the last 4-5 years. Benchmark indices Sensex and Nifty 50 gain > 20% each in the Calendar Year 2021 which is the best annual returns since 2017. All sectors finished the year in the green for the Calendar year 2021.
Nifty SmallCaps & Midcap index gained in excess of 45% each outperforming the large ones. All the nine sectoral indices on the NSE rose in 2021 with Metal Index being the best followed by Nifty IT Index and then real estate. In the primary market this the action was very strong with >60 companies mopped up a record `1.2 lakh crore in 2021 through initial public offerings (IPOs).
At ET Now, we exclusively spoke to Prashant R. Khemka, CFA, who is the founder and Managing Director of White Oak Capital Management, an investment management firm established in June 2017 who says that he is constructive about the Indian markets in CY22 despite a strong CY21 however he adds that returns may be normalized in line with the economic GDP growth & markets will be supported by overall corporate earning which will pick up as the strong economic growth unfolds.
In terms of investment strategy, they continue to focus on a bottom-up approach within the sector with the focus being on the strategy that ‘Growth being available at a reasonable price’. In terms of sectors select large financials & Information technology are some of the sectors were growth visibility is reasonable as per Prashant Khemka.
Catch the discussion with Prashant R. Khemka of Oak Capital Management here
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