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Informist, Saturday, May 9, 2026

 

--Motilal Fincl Svcs chair: See Sensex hitting 300,000 in 12 years
--CONTEXT: Motilal Oswal Fincl Svcs Chairman Agrawal at Groww investor event
--Motilal Fincl Svcs chair:See potential in capital mkt stocks in coming yrs
--Motilal Fincl Svcs chair: IT stocks facing headwinds, do not prefer them
--Motilal Fincl Svcs chair:Quick commerce India's 'AI moment', has potential
 

MUMBAI – Motilal Oswal Financial Services Ltd. Chairman Raamdeo Agrawal is bullish on India's long-term macroeconomic growth and expects the headline BSE Sensex to hit 300,000 points in 12 years, after hitting 150,000 points by 2032. "Three lakh in 12 years is more guaranteed than one and a half lakh in six years," Agrawal said in a panel discussion at Groww India Investor Festival. "That is how compounding works," he said.

 

On Friday, the BSE Sensex closed at 77328.19 points, down 516.33 points or 0.7%.

 

Agrawal also spoke about the growing investor interest in other Asian equity markets, including South Korea, and said that while some regions were currently benefiting from the theme of artificial intelligence, he sees India's long-term structural trajectory remained unmatched. He also drew a comparison between the domestic index Sensex and South Korea's KOSPI, both launched in 1980. "...while the Korean benchmark is around 5,000 points today, the Sensex has climbed past 80,000."

 

Among sectors, he sees India's information technology stocks currently facing headwinds due to lack of the aritificial intelligence theme. However, he remains optimistic that Indian technology companies will adapt to new technological developments, though he believes the boom in India's quick commerce segment is India "AI moment" and sees potential for growth in the coming years.

 

Agrawal sees capital market players to be the most sought after, primarily due to a surge in retail participation in equities. "We are adding nearly 3 million new customers every month," Agrawal said. "We already have more than 220 million demat accounts. By 2031–32, we could reach 500–600 million," he said. According to him, rising retail participation will create opportunities across brokers, exchanges, asset managers, wealth platforms, and depositories. 

 

Other speakers at the event also struck the same tone on the growth potential of the Indian capital market and economy, and were optimistic about the returns from domestic equities over the long term. They said the country's structural growth drivers remain intact despite persistent outflows of investments from foreign investors, geopolitical tensions, and rising concerns around India lagging in areas such as artificial intelligence and semiconductors.  

 

"We have become used to markets delivering 15-20% returns every year after COVID. Markets do not move in a straight line," Ramesh Damani, managing director, Ramesh S Damani Finance Pvt. Ltd., said, urging investors against drawing conclusions from short-term corrections or temporary underperformance. He said that headline indices globally have often remained flat for long periods of time even as quality businesses continued compounding shareholder wealth.

 

On India missing out on the artificial intelligence-led theme, Sunil Singhania, founder of Abakkus Asset Manager Pvt. Ltd., said, "There is no doubt that several global companies have done phenomenally well in AI and semiconductors. But consumption and people ultimately sustain economies, and India remains one of the strongest long-term consumption stories globally." 

 

Both Damani and Singhania repeatedly stressed the importance of patience and compounding, warning retail investors against chasing speculative returns or shifting between trending asset classes. "Gold and silver are non-productive assets. Equities are growing assets," Singhania said, while recommending only limited allocation towards precious metals. On sectoral opportunities, Damani said defence, infrastructure, logistics and energy-linked businesses could emerge as long-term beneficiaries in an increasingly volatile geopolitical environment.  End

Reported by Gopika Balasubramanium

Edited by Avishek Dutta

 

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