New Delhi, March 24
As the Indian equity markets hit two-months high on Monday, Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Financial Services Ltd, said on Monday that now the worst is over for the stock exchanges and "happy days are back".
Agrawal said that after the recent correction, the stock market is finally stabilising and ready for a period of recovery and growth.
The Indian stock market witnessed a sharp rally in the recent time due to positive global and domestic updates, he added.
In the past one week, Nifty and Sensex have surged more than 5 per cent. Midcap and Smallcap stocks contributed the most in the recent rally.
During this period, the Nifty Midcap 100 index shot up by more than 8 per cent and the Nifty Smallcap 100 index surged more than 9 per cent.
On Monday, Sensex was trading at 78,050, with 1.49 per cent gain in intra-day trade, while Nifty was at 23,688, with 1.45 per cent gain.
In its latest report, Motilal Oswal Private Wealth (MOPW) remained optimistic about equities in both the short and long term.
The brokerage firm suggested that investors should continue to invest in large-cap and hybrid funds through lump sum investments while deploying funds into mid- and Smallcap stocks in a staggered manner over the next six months.