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Mark Mobius is a prominent figure in the investment world. His strategy and market understanding are admired by all. When such a veteran offers his opinion on the Indian market, it's crucial to understand it. Mark Mobius has long been bullish on the Indian market. India is his favorite emerging market destination.
He spoke candidly with CNBC TV18 about the volatility in the Lok Sabha elections and the underlying reasons for the current market fluctuations. Watch the video to find out what veteran investor Mark Mobius has to say. Hello, I'm Tanvi Sinha, and you're watching Bisk. Mark Mobius says that investors, whether foreign or Indian, hate uncertainty.
They don't want anything uncertain about the future. Therefore, the market is experiencing fluctuations due to the uncertainty surrounding the Lok Sabha election results. He said that the Lok Sabha elections have a significant impact on the market because people's eyes are on the election results. Everyone is emotionally connected to the Lok Sabha elections in some way or another.
It's worth noting that foreign institutional investors, or FIIs, invest heavily in these markets. According to data, FIIs have sold shares worth a net $33.4 billion in May so far, while since the announcement of the Lok Sabha elections in April, FIIs have sold shares worth approximately $6 billion. Mark Mobius said that FIIs are selling due to the uncertainty surrounding the Lok Sabha elections.
The veteran investor believes that if the Bharatiya Janata Party (BJP) -led NDA wins more than 400 seats, the Indian stock market will surge and perform well. This will also be good for the Indian economy. Mobius emphasized that a strong return for the NDA government will help the government move forward on its ambitious policies and help it boost growth and adopt technology across all sectors.
Mobius also said that attracting foreign investors requires a favorable environment, and the government plays a crucial role in creating it. Policy on the growth and technology fronts will be crucial for the government. Mark believes that India needs to attract investment in foreign technologies such as semiconductors and software.
Mobius further states that India has a great opportunity to become a tech innovation and tech manufacturing hub. This will depend on the extent to which the Indian government is successful in attracting large companies like China, Taiwan, the United States, and Japan. This will certainly be influenced by the environment created by the Indian government.
Mobius stated that if the NDA succeeds in securing over 400 seats, the Modi government will likely attract foreign investment by relaxing restrictions. Mobius also noted that if the NDA secures the same number of seats as in 2019, the market may operate within a range. In such a situation, there will be little enthusiasm.
If the NDA secures 250 to 300 seats, it will be bad news for the market. The impact of defeat will be mitigated if the opposition does not attempt to steer the new government at the market and technology level. Advancing the digitization plan will also boost the market. Amidst the uncertainty surrounding the election environment, Mark Mobius says that the market is driven more by emotions than by knowledge or logic.
Therefore, investors should monitor market sentiment when the market reacts emotionally. If the market is facing a downtrend, then an investment strategy should be made against it. We hope that the information given by Mark Bobas in this video has given you a perspective on how to trade in the market and what is the reason behind the current fluctuations in the market.
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