When a bull market refuses to subside, belying all the naysayers and blowing away all the concerns, the biggest casualty is the short-sellers, who get driven up against the wall. But now, eminent investor Samir Arora and a believer in India’s bull market has posted a pictorial representation of what this adage may actually look like.
Arora, known for his frank speak and sometimes often quirky take on the market developments, recently shared a picture on Twitter. It showed a bull — a real one — ready to charge in the middle of a street, with people — most of whom appear to be wearing shorts — clinging to windows or pillars of the nearby buildings to save themselves.
Needless to say, Samir Arora, founder and fund manager of the hedge fund Helios Capital Management, obviously meant to tell that those people people hanging on to the dear life represent the plight of short sellers. Samir Arora founded Helios Capital Management in 2005, after his long stint at Alliance Capital Management in Singapore.
Here’s Samir Arora’s tweet. It has the caption: Short sellers in a bull market.
Short sellers in a bull market. pic.twitter.com/Upf1Yq3FOJ
— Samir Arora (@Iamsamirarora) 11 July 2017
Of late, Indian equity markets are on sustained spree of setting new records almost every few days. Yesterday, BSE Sensex breached the 32,000-mark for the first time ever and managed to close above it as well, with the Nifty also making a new all-time high just shy of 9,900 points. Today morning, Nifty broke that barrier too, again making a new all-time high, just above 9,900 points.
While markets trade under pressure today, mostly led by the shares of TCS, which reported disappointing first quarter results yesterday, 10,000 points on NSE Nifty appears to be well within the sight with most experts bullish on the markets.
Earlier last month, Ridham Desai, MD, Morgan Stanley, said in an interview with CNBC-TV18 that he expects NSE’s Nifty index to reach 30,000 points in the next five years, on the back of renewed consumption, greatly improved exports and infrastructure spending by the government. This roughly works out to a CAGR of 25.33% for the Nifty over the next five years. This week, Yogesh Nagaonkar, Fund Manager, Bonanza PMS, told FE Online that he is bullish on Indian equity markets for near term, pointing out to valuations that are still attractive. “We don’t see any macro concerns,” he said, adding that one should add good quality companies in the portfolio.