The BSE Sensex on Wednesday closed at a record high, boosted mainly by uninterrupted foreign portfolio inflows on hopes the US Federal Reserve might keep its stimulus in place, at least till March.
Look beyond the Sensex summit, advise fund bosses
MD, HDFC AMC
"The 21,000 level is meaningless. In the past five years, earnings have grown 40 per cent. One should look at the P/E. We are very positive on the market despite elections being around the corner."
CEO, L&T Mutual Fund
"I don't think the Sensex is a good measure of the market. One can look at investing in equities even at these levels, as there is a lot of value in many companies. If the outcome of the election is good, you could see a sharp up-move."
CEO, Reliance Capital AMC
"We won't see a mad rush of people investing in mutual funds just because the market is going up. If the markets keep going up, investors will not come. If the market corrects to 18,000-levels you will see investors coming in."
MD & CEO, ICICI Prudential MF
"I believe the markets are quite polarised. Some of the large-caps are highly valued and there are some mid-cap stocks that are available cheap. Value is available at any level in the market."