Sensex may hit 1-lakh mark by December 2024 over long-term bull market trend, ’buy on dips’ when required: Mark Mobius | Stock Market News

German emerging markets fund manager Mark Mobius is expecting that the Sensex may touch one lakh by the end of this year.

“We are now on a long term bull market and I see sensex index going up to a 100,000,” Mobius said while speaking to CNBC TV-18.

However, Mobius also mentioned that Sebi’s directives on the derivatives market will temporarily impact the market.

“The problem facing India as Sebi has pointed out recently is the derivatives become too big, there are too many people gambling on derivatives,” he said.

“…we have to watch what measures Sebi is going to take in terms of derivatives when that happens you will probably see a downturn in the market, just temporary but you would see a correction in the market.But the measures will not be able to hold back the bull run in Indian stocks, he added.

“I have always said, there will be corrections along the way in India that can be 5-10-15%, so expect that, but be ready to buy when it happens. It is a good idea to hold gold, may be 10% of portfolio. One of the reasons of gold’s price rise is the Indian buying,” while speaking on the risks in the market.

Indian stock market

On September 24, Sensex crossed the record-high mark of 85,000 points, achieving at 85,163 points, marking the fourth straight session in which the index has recorded this new milestone.

On the IPO boom he said, “It is not a good idea to pile into the IPOs unless you are certain about the business.”

According to him, the most interesting sectors right now are real estate, as demand for housing is going to soar, infrastructure, and pharmaceuticals. In terms of emerging sectors, he stated that the semiconductor industry is expected to do well; however, it will take time.

Mobius is hopeful that the ‘new bull market’ may have a good impact on India and other Asian economies.