Market sell-off: Vikas Khemani of Carnelian Capital Advisors advises buying on dips
After benchmark indices Sensex and Nifty nosedived on Friday, mirroring the bearish mood in world markets, Vikas Khemani, founder of Carnelian Capital Advisors said India is in the middle of a structural bull market.
"I think we are in the middle of a structural bull market, the party has just begun. I think we are just into a couple of quarters of economic recovery and this economic recovery is likely to sustain over the next 3-5 years. So, this kind of confluence of a lot of economic drivers rarely happen in a life of a country and I think we are at that juncture," he said in an interview to CNBC-TV18.
He believes India is a structural growth story and its market cap can be between $5-6 trillion in next 4-5 years.
"Every bull market would have corrections and they would be sharp and short lived. They will never be sustained corrections. Hence if you are a believer which at least I am that India is a structural growth story, lots of money to be made. India’s market cap can be between $5-6 trillion in next 4-5 years’ time. If that is the kind of potential waiting to happen, then there’s a long way to go. Hence every dip should be used as an opportunity to buy," he said.