Market experts reactions

Sudip Bandyopadhyay Director & CEO, Reliance Money

“The medium and long term outlook on the markets is very positive. Retail investors should therefore select the right sector and stay invested.”

Nilesh Shah CEO, AMBIT CAPITAL

“The market is at a stage where it is fairly overvalued. We are cautiously optimistic over the longer term, though short term blips will continue. It is driven by liquidity flows, the likes of which we have not seen earlier. September witnessed inflows worth $4.5 billion. The market will continue to go north as long as the inflows continue. We expect the results to be in line with expectations or a shade better.

Vibhav Kapoor chief investment officer, IL&FS

“There is a big frenzy in the market. It is difficult to say how long the momentum would continue. It won’t be surprising if the Sensex rises by 1000 points. There are no logical levels and even good results have been factored in to the current prices. The only explanation for the rally is the absence of negative news and the continuing foreign inflows. The market will consolidate for 6-8 months after the momentum stops. ”

Deven Choksey, MD, KRC shares

“The earnings growth is expected to continue, which means that valuations are not expensive. Foreign investors are looking for safe currency as the US dollar is weakening. They are confident about the rupee strength and thereby tempted to park money in India, at least for now. There are no targets in a momentum-driven market, but 5300 on the Nifty and 18200 for Sensex are short term targets.”