Ace investor Shankar Sharma has said that in order to make money in stock markets today, one only needs a ‘bull market’ and not any experience, study ,knowledge, education, temperament.
Sharma, taking a jibe at fund managers, took to social media platform ‘X’ and said that millions of newbie investors have made tons of money in India in the last two-three years, as the Indian stock market gave record returns in the three-year period.
According to Sharma, this proves that one does not need any experience, study, knowledge, education, temperament to make money in domestic markets. One only requires a bull market.
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‘Millions of newbie investors have made tons of money in India, last 2-3 years. This proves one thing: that to make money in markets, you don’t need any experience, study ,knowledge, education, temperament. You just need a Bull Market,” said Sharma on ‘X’.
The NSE benchmark Nifty 50 index stood at 11,132.75 on March 2, 2020 when the COVID-19 pandemic was beginning to hit India. Three years down the line, Nifty 50 stood at 17,450 in March 2023, growing 55.6 per cent. The frontline index has outshined its global peers including Nikkei, Dow Jones and Hang Seng index over the three-year period.
The Indian stock market has witnessed broad-basing over the last nine months. It has also undergone a transformation from Quality to Value, and from Secular sectors to Commodities with different sectors being the flavor of the month in CY22.
From being entirely dominated by a narrow basket of quality large cap stocks of select sectors, markets have broadened with the participation of other sectors too during the last eight months, as per a report by brokerage firm Motilal Oswal Financial Services. Mid and small caps saw a jump in their market cap contributions since the previous Nifty-50 peak of December 2022.
On Friday, Sensex and Nifty sustained their upward movement for the second straight day and ended with gains in line with positive trends in global markets.
Extending its previous day’s rally, the 30-share BSE Sensex climbed 282.88 points or 0.44 per cent to settle at 64,363.78. During the day, it jumped 454.29 points or 0.70 per cent to 64,535.19. The Nifty went up by 97.35 points or 0.51 per cent to close at 19,230.60.
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Updated: 04 Nov 2023, 08:47 PM IST