Crypto investment should be limited to 1-2%; bullish on chemical stocks, China plus one theme: Shankar Sharma

cnbctv18.com:

Even as the benchmark equity indices continue to face the heat, with Nifty struggling around the 17,000 mark and Sensex barely inching up, it will be an understatement to say that mounting pressure on the equity markets are taking a toll on investors. To assuage the worries of the investors, CNBC -TV18 spoke to market veteran Shankar Sharma, to understand his take on the current scenario.Sharma, believes the headline markets in India have been narrating a tale about weakness.

Highlighting it further, he mentioned that the Nifty hasn’t changed between now and August of last year.He said, “A lot has changed in the world since August-September last year, but the one thing that has not changed, is that the Nifty hasn't changed between August last year and now, which is 7 months or thereabouts. So the Nifty actually was telling you something, which of course, most of us will ignore, headline markets intrinsically in India were not bullish; they were actually very flat-lining or flattish because there was no traction coming in from the biggies in the Indian Sensex and Nifty.”On sectors that he likes, he explained that he is bullish on chemical stocks.

Sharma also mentioned that he has faith in China plus one theme. He believes banks and FMCG companies have run their course and are not going to deliver strong compounding growth.