Sunil Singhania, founder of Abakkus Asset Manager, suggests investors wait a few days for the market to stabilize before making any portfolio changes. Despite the recent election results, he believes the coalition government is strong and will continue focusing on development.
When asked about the market outlook, Singhania acknowledges that the election results were slightly below market expectations. However, he emphasizes that the correction we’re seeing is not severe and that it’s important to avoid hasty conclusions about economic impacts.
He advises against making significant changes to portfolios, noting that the recent market drop is mostly due to high valuations rather than fundamental weaknesses. Stocks related to economic growth and development, such as public sector companies and defense, have fallen, but this is largely due to their high prices.
Singhania recommends a cautious approach, monitoring portfolios regularly without rushing into major adjustments. He highlights the importance of holding stable sectors like tech and pharma and suggests avoiding overvalued sectors like consumption.
Overall, he believes that despite the recent volatility, the market is not drastically down, and there is no need for drastic portfolio changes at this time.
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