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Mark Mobius' prediction for stock market under Modi 3.0: Sensex may hit 1 lakh
On investing, Mark Mobius said, “You always have to keep in mind that the best way to get the best value is to do what other people are not doing."
Mark Mobius- billionaire investor- said that he is confident that the bull run in Indian stock markets is intact. Sensex can even hit the 1 lakh mark before PM Modi finishes his third term, he predicted as the BJP-led NDA was restricted in the Lok Sabha elections to a thinner majority. The investor told ETMarkets that he expects Sensex to grow at a pace of 14-15% over the next 10 years.
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On investing, he said, “You always have to keep in mind that the best way to get the best value is to do what other people are not doing. So, there is an old saying, the best time to buy is when others are selling at a very unhappy period. And the best time to sell is when everyone is greedily buying. So, you have got to keep those principles in mind.”
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Reflecting on frugality and whether it is tougher for the Gen Z to practice it, he said, “It is very tough because you have got a bombardment from the hype machine. I call it the hype machine, where you have got your cell phone all the time, looking at what people are buying and what are they selling, you are following certain people and you see what they are buying and selling and you want to do the same. So, you have got to be resistant to this kind of enticement, very-very important, and very difficult I might add. But it is critical if you want to become wealthy, because if you are spending all your money on frivolous things that really have no long-term value, then you are not going to become wealthy.”
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Talking about the results of Lok Sabha elections, the investor said, “You have seen some of the big infrastructure companies come down pretty dramatically because there is a fear that maybe infrastructure will be slowing down, the construction of roads, bridges, etc, will slow down, so that is unfortunate, but it remains to be seen. I think we have to wait to see exactly what the Congress party along with other parties decide to do and how they decide to go forward.”
