Ramesh Damani Sees New Bull Market in India, Favors Metals and AI Infrastructure

what happened

Ramesh Damani, a Member of the BSE, told CNBC-TV18 during the special Muhurat Trading session on November 8 that India is entering a fresh up-cycle. He linked the move to shifting global money flows and a return of foreign institutional buying, according to a report published by TradingView.

Damani urged investors not to sit out the market over US elections or conflicts in West Asia and Ukraine, calling attempts to time it a "fool's game." He pointed to the Nifty's recent 7% jump as proof that staying invested matters more than timing entries. His preferred areas include new-economy names, state-run metals and minerals producers that could gain from a push for domestic supply chains, and AI-linked infrastructure such as transformer, cable, power and fibre optics companies, which he finds attractive after a recent pullback.

Defence companies run by the state, he added, are now well known to the market and offer less value, though they may keep compounding.

why it matters

For Indian equities, the view points to continued foreign inflows and money rotating away from markets that led the rally earlier, such as Japan, Korea, Taiwan and the US. This is one investor's opinion rather than a forecast, so it is worth weighing against other assessments.

instruments