- 2 months ago
With people ready to spend on home appliances, beauty products, lifestyle goods, and automobiles, investors are now looking for stocks that could benefit from this surge in demand.
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00:00Good afternoon and welcome to Market Closing on our brand new collaboration between Business
00:13Today and India Today Television. It's been a day packed with action on Dalal Street from global
00:17market queues and policy signals to earnings, sector trends and stock specific moves. We are
00:24here to bring you the full picture of how the markets perform and what it means for your money.
00:29So stay tuned as we break down the Sensex, the Nifty and the stories that are shaping even
00:34tomorrow's trade. And don't miss the market opening show tomorrow morning at 9am with Abha Bakaya
00:40giving you the first word on everything that will move the markets.
00:46Let's straight away look at how the markets are trading in the last half an hour of trade today.
00:50Remember it's the sixth consecutive day of gains for the Indian stock markets. Look at the Nifty,
00:54we are hovering around 24,970 odd levels. There's a 0.4% of an uptick. Although
00:59we've remained in a narrow band of range right from the morning session and we have seen a little bit
01:04of choppiness across the board. But broad based rally that has taken place across the board on
01:09the Nifty, on the Nifty bank and even the broader markets that is the mid cap stocks as well as the
01:14small cap stocks truly participating with both the indices outperforming the Nifty as well. Look
01:18at the mid cap index that's nearly a percent higher in trade right now. And so are the small cap
01:23indices, 0.7% of a move on the higher side. What's happening on the sectoral front? Again,
01:28like yesterday, we have the IT stocks that have taken the lead today. Another 2.6% kind of a move
01:33on the IT index today that's led by a lot of heavyweight stocks like TCS, HCL Technologies,
01:40Tech Mahindra and even Infosys at largest. Well, remember this IT move was largely led by Infosys
01:46announcing a buyback, the fifth buyback that the company will be announcing along with the earnings
01:51as well going forward from here. PSU banks, that's the banks that are owned by the government. Those
01:55are the companies that are actually looking good pretty well in trade today. Look at this is the
02:00second index that's up by over 2% in trade today and a lot of stocks from within this basket are
02:05also higher in trade. Look at the real estate stocks, that's also buzzing in trade, almost a
02:11percent higher in trade for the real estate sector as well. But what's trending down? It's the auto
02:16sector. Now, all of you know that from the last two weeks, from the time the GST rationalization
02:22buzz started, it was the auto stocks and the consumer durable stocks that were consistently
02:26moving up and you are now seeing some profit taking taking place on the auto stocks. So,
02:32the top nifty laggards today are largely from the auto basket. Mahindra and Mahindra, Maruti Suzuki,
02:37Bajaj Auto. You also have names like Ayesha Motors that are dragging in trade. So,
02:41all of these stocks that are pulling lower amidst all the profit booking that's taking
02:46place. Let's welcome our guest on board. Mr. Vineet Bulinchkar is now joining in on the
02:51program with us. He's the head of research at Ventura Securities. Warm welcome to you,
02:56Vineet. Good to have you with us yet again. Help us understand with your fresh view on the
03:00markets. How are you looking at the markets up front?
03:04So, you know, a few things have happened is that, you know, the heavily tariffs, the segments
03:09are finding different avenues to reach the markets of the US and also diversification. So,
03:16you know, I think in some terms, the worst is done within these segments. Additionally,
03:20Trump wanting to, you know, again, cozy up to India is good news for us because, you know,
03:28they need the deal more than us. And also on the tariff, you know, the matter is going to the
03:34Supreme Courts in the US. So, you know, there could be a possibility of reversal, but, you know,
03:39it's anybody's guess when that will happen. But, you know, all these sum total up to tell you that
03:43the worst in terms of the tariff news is done with and we should be seeing better times going ahead.
03:51Absolutely. So, Trump tariffs, that's the clear, you know, focus again back into focus as well today.
03:57Let's start off by taking and talking about all the top news that we are looking at at this hour
04:01for our viewers. Investor sentiment jumps after US President Trump says trade talks with India are
04:10ongoing. Markets extend rally, with the Nifty inching higher for the sixth consecutive session,
04:15crossing 25,000 mark and the Sensex gaining over 250 points.
04:25Tech stocks are once again leading the rally, with Wipro, TCS, HCL Tech and Tech Mahindra
04:29are gaining in trade. Oracle Financial Services jumping 9%, while persistent systems co-forge
04:35emphasis from the mid-cap IT basket and even LTI mine tree rising about 4% to 5% in trade.
04:41The other sectors apart from IT are the textile spaces that's also been buzzing,
04:46Upaldas exports, Wellspin living, they're all surging 9% high in trade amid renewed talks
04:51between US and India as far as the tariffs are concerned.
04:57Three IPOs have opened in trade today on the LAL Street with a strong start.
05:02Urban Company, Dev Accelerator and Shringar House of Mangal Sutra fully subscribed on the first day.
05:07Which raises India's FI26 GDP forecast to 6.9% from 6.5% earlier.
05:16On strong consumer demand, GST reforms to boost spending,
05:19US tariffs likely negotiated lower and RBI may cut rates later this year.
05:25GST reforms will cushion the impact of US tariffs limiting GDP drag to 0.2% to 0.3% in FI26.
05:40Domestic demand boost to offset export slowdown.
05:43Veneet, coming back to you, with respect to the entire GST buzz that we had been so far noticing,
05:55last couple of sessions we've been looking at all those consumer-oriented sectors,
06:00the autos for instance, the consumer durables for instance, also see some profit booking in place.
06:05How are you looking at this profit booking?
06:07Is it only in the interim period and we might see a bounce back again
06:11when the GST cuts actually come into force from September 22nd?
06:15How would you approach autos and consumer durables for now?
06:19So, the GST cuts are all and done with.
06:22It's only that, you know, we are currently in the Shrath period.
06:25And during the Shrath period, not much buying happens.
06:28So, you know, all the consumers' trucks are just drifting down aimlessly.
06:31I believe that once the Shrath period is over and 22nd, the Navratri comes in,
06:37we will be punching, you know, very higher.
06:42And we expect to see some very strong demand coming in.
06:48I believe that, you know, stocks like the distributors, like electronic marts,
06:55or you can talk about the manufacturers like Dixon.
06:58You know, these are the kinds of stocks that are going to see some real fireworks going ahead.
07:04You know, consumption is going to come in with a bang.
07:06And, you know, I hope that it makes up for the losses due to the tariffs.
07:12Absolutely.
07:12And let's now listen in to Chief Economic Advisor, B. Anand Nageshwaran,
07:17also talking about how GST reforms will not just give more money in the hands of consumers,
07:21but it will also act as a cushion to the GDP from the global uncertainties that it has been facing until now.
07:28Listen in.
07:29So the GST's contribution is, again, not just in the direct impact in terms of its purchasing power it places in the hands of the people
07:38by bringing down the prices of goods, which, of course, the private sector has to pass on.
07:43But more importantly, what it does is to provide an antidote to the second and third round uncertainty effects.
07:51So net-net, I think if you take the GST into consideration, the impact of tariffs and the GST,
08:01the compensating effects of GST rate reductions and process reform could probably give us a 0.2 to 0.3 percent on a net basis
08:09in terms of drag on the GDP estimates that we have of 6.3 to 6.8 for the current financial year.
08:18Vineet, coming back to you, when we talk about the U.S. tariffs, remember right from April until now,
08:23we've been just looking at how markets have been reacting to every talk, every tweet that we've seen from Donald Trump.
08:31Off late, we have actually seen some positive, you know, statements coming in from Donald Trump yet again,
08:36talking about renewed talks that are taking place, how he's hopeful of negotiations to come through
08:42as far as the trade barriers are concerned.
08:44We've also seen a reciprocation from Prime Minister Narendra Modi there as well.
08:49And as a reaction, we've been seeing IT stocks continue to rally in trade.
08:53Remember, right from April last four months, we have actually seen IT space as a big drag onto the markets.
08:59But these renewed hopes of more talks taking place and some kind of a sense to prevail from those 50 percent tariffs
09:06that we've been imposed with, it's the IT stocks that are again, you know, looking buoyant at this point in time.
09:12What's your approach on the IT sector?
09:16So, you know, this bounce is coming because of a couple of things.
09:20One is that, you know, everyone thought that the worst was about to take place.
09:24And with Trump coming in saying that, you know, he would like to renegotiate with us, you know, brings a lot of hope.
09:31So, not only is the sentiment turned around, but, you know, the stocks have, you know, kind of on technical terms,
09:37formed reasonable bottoms and taken support and moved up.
09:42The fact that, you know, the rally has been quite aggressive seems to suggest that an intermediate bottom has been made.
09:48And, you know, it should possibly play out until the earning season is through.
09:53So, you know, until the earning season, we can definitely say that we are out of the woods.
09:58But, you know, my view on the IT sector overall is a little, little somber.
10:06So, I would want to repair positions in this pullback rally and, you know, allocate money more to the domestic sectors than to the IT.
10:16Okay. But what about the Infosys buyback?
10:19How are you looking at that opportunity?
10:21The fifth buyback that the company has announced and the first one in the last three years?
10:28Yeah, but, you know, it's telling you that they do not have avenues to deploy the money and hence they're doing a buyback.
10:33Apart from this technical jump, you know, today you're seeing the stock is also down.
10:38So, you know, it's actually telling you that, you know, the street doesn't see this as positively as, you know, being something of a great event.
10:47So, I take it with a, yeah.
10:51Absolutely. So, Vinit, help me understand what about the other sectors?
10:54You know, we had been seeing a lot of pain on the textile space, for instance, that had been dragging, you know, because of the 50% tariffs,
11:02which virtually makes no trade possible at that kind of a rate for a lot of export-oriented companies like textiles for that matter.
11:09Today, most of these stocks are higher in trade.
11:11Look at the Vardaman textile, almost 9.5% higher.
11:14At the day's high, you can actually see that spike further moving higher in trade.
11:18Look at Arvind, for instance, Wellspun Living, Wellspun Corp.
11:21These all stocks are actually hovering higher in trade.
11:23Is that also with hopes that, you know, the tariff discussions could bring down tariffs from 50% now?
11:31So, you know, actually, you know, I would like to give a slightly longish answer.
11:35What is happening is that, you know, with the tariffs being challenged in the courts, okay,
11:40Trump could have used those extra powers or special powers for a particular country of sorts.
11:48The fact that he is using it across the board is being termed as illegal.
11:53The federal court has already ruled that.
11:55And, you know, they are going and challenging that in the Supreme Court.
11:58So, the hope is that, you know, this thing will not pass through because, you know, it is absolutely up it the way it is being implemented.
12:08And, you know, if they have to turn back the tables, then, you know, the tariffs will have to be cancelled and which is going to be very bullish news.
12:18And, you know, the fact that India is taking extremely good steps on a broad footing to diversify markets.
12:25And with Trump coming in to renegotiate, you know, there is a double surprise for the sector in case everything works out.
12:31Because you not only have reinstated your mother market, but you are also diversified with other markets.
12:38So, exports could, you know, actually come in with a revenge.
12:41Okay, Vineet, hold that thought there.
12:45We are going to be now focusing our attention on the entire consumer demand that the upcoming festive season could really show up in the upcoming months as well.
12:55So, let's take a look at the festive shopping this season.
12:58And the numbers are rather impressive.
13:00A local circles report has said that urban India is expected to spend around 2.19 lakh crore rupees in the upcoming festive season.
13:09Now, this is because GST rate cuts on essentials, consumer durables and medicines have actually given a big boost to the consumer sentiment as well.
13:17And this year, 37% of the households are focusing on homes, 24% on fashion and gadgets are also in high demand.
13:25Interestingly, while Tier 1 metros leads the way, Tier 2 and Tier 3 cities are also showing strong growth, signalling a pan-India surge in festive spending as well.
13:35We are now joined by Sachin Taparia.
13:37He is the Chairman and the Chief Executive Officer of Local Circles to share with us what his recent report really tells us about what could be in the offing for the upcoming festive season.
13:46Warm welcome to you, Sachin.
13:47Good to have you with us.
13:48Well, 2.19 lakh crore rupees seems like a big number.
13:52Tell us in comparison to last year, how big a jump do you see in this number?
13:56So, Sachin, this number was about 1.85 lakh crores, if you look at Urban India, for 2024.
14:05And without the GST reforms, this number would have been around 1.7 to 1.75 lakh crores.
14:13But with the GST announcements, I think there is a bit of enthusiasm now in terms of consumers looking at buying that long-pending demand or long-pending essential item for their appliances or their gadget requirements.
14:33And hence, this number this year is looking at 2.19 lakh crores.
14:38As you said, strong demand for gadgets as well as appliances, home renovation products in another area where we are seeing a lot of people showing interest.
14:50As well as the regular festive things around festive supplies, around groceries, around fashion and beauty.
15:00So, overall, it looks like it's going to be a reasonably strong festive season.
15:05Fantastic. Hold that thought there, Sachin.
15:08Let me also welcome back Vinita on this panel because he's going to be helping us understand, as a retail investor, how to tap onto this opportunity there.
15:17So, Vinita, Sachin is of the view that it's going to be consumer durables that are going to be in high demand.
15:21Gadgets are going to be in high demand as well.
15:24Your home appliances and even your essentials like beauty and lifestyle is also going to be big this festive season.
15:31Help us understand which are the top stocks from within this basket that you would look at as opportunities.
15:38So, you know, fashion and beauty, clearly, Nika comes to mind.
15:42You know, we think Nika can do really well.
15:44If you talk of consumer durables, I said the best way to play consumer durables is to play the, you know, distributors and the manufacturers.
15:52Because, you know, there's a lot of competition among the brands.
15:56So, the distributors are, you know, Aditya Vision in Bihar and Electronic Manufacturing or EMS in Hyderabad based.
16:07And among the manufacturers, you can look at TG Electric, Amber and Dixon.
16:11So, these three are, so, you know, these are some of the stocks that I would like to recommend to you.
16:18As far as the autos are concerned, we like Mahindra Mahindra a lot and him, also Maruti.
16:27Okay.
16:28Now, Sachin, coming to you, those are the key sectors where you actually believe the demand could actually come in from largely.
16:34When we talk about where exactly will people go and shop for these online versus offline,
16:39what are the trends telling you this festive season?
16:41Where could maximum demand be coming in from?
16:45So, some massive jump there, Sakshi, in regards to online shopping.
16:51What we are seeing, basically, that, you know, for this year, if you look at some of the online numbers,
16:59online as a channel, you know, being the preferred channel for shopping,
17:03that was the case for about 13% households in 2024.
17:09That number has jumped to 28%.
17:12So, that's a sizable jump, you know, 115%, essentially, from 24 to 25.
17:19So, that is where, you know, you have 28% of the consumers going.
17:23The large majority, you know, if you especially look at all of Urban India, especially Tier 2, Tier 3,
17:28their top channel will be, you know, going to stores and markets and local markets,
17:35but they'll also be using, you know, online for certain products, essentially.
17:40So, a big jump in terms of overall online penetration, essentially.
17:45And I think quick commerce is also adding to that with, you know, many of these things,
17:50people being able to order online and get it within 10 minutes, especially for last week, supplies and needs.
17:56You know, you have a puja going on, you place that last minute order and you get your supplies.
18:01I think all in all that, all of that is adding up to that 28% number.
18:06Okay, fantastic.
18:07We need to you, the quick commerce giants that we have listed on the stock markets are Zomato and Swiggy,
18:12Eternal and Swiggy that is.
18:14And, you know, of course, we have given to understand that all the e-commerce and e-marketplaces
18:20have already started to hire a lot more temporary workforce to cater to this boost in festive demand already.
18:2740 to 60% kind of, you know, a jump in the kind of hirings that they are likely to do for this festive season
18:33on the back of GST cuts.
18:35Tell me, how are you looking at the benefits for,
18:37Naika, you already mentioned, as a beauty e-marketplace is going to definitely benefit.
18:42What about Swiggy and Eternal?
18:44How are you looking at those?
18:45But we find there is a little more value in Swiggy than in Eternal.
18:52Eternal is a little expensive.
18:55Of course, it's going to remain expensive, considering the kind of heady growth that they have.
19:01But Swiggy definitely has got a lot of value at current level.
19:05Okay, Swiggy has a lot more value.
19:07Okay, Sachin, help me understand what is the average ticket size that you're expecting from the urban Indians
19:12to spend this festive season?
19:14Is there a jump on that too?
19:16So there is, Sakshi, in fact, you know, the urban middle class, upper middle class, I should say.
19:23These are folks, you know, and the upper class, you know, in terms of spending,
19:30this is the audience which is spending more than 20,000 in a festive season.
19:34That audience has grown from 26% last year to 37% this year, which is, you know, again, sizable.
19:43So a lot of spending happening from this segment of the society, much more than last year.
19:50And I think that is what is adding up of, you know, if you look at the 1.85 crore number and the 2.19 lakh crore number,
19:58that is what is contributing to that jump, essentially.
20:02And the top almost stays, you know, similar, which is folks who are spending more than a lakh in the festive season.
20:10That stays in single digit, you know, around 4% or so.
20:13But it's that upper middle class that, you know, is seeing a massive jump in terms of spending over 20,000,
20:19somewhere between 20,000 to a lakh.
20:21Okay, so there you have it.
20:23The ticket size is also increasing.
20:25Veneet, coming to you, you know, a lot of people also inch up their spending on the bullion,
20:30the gold and silver as well.
20:32We are already seeing golden gains for the yellow metal, which is at record high level.
20:36There's festive demand.
20:37There's a global rally that's driving the surge.
20:40There are hopes of Federal Reserve rate cuts that are pushing the stock, you know, pushing the gold prices higher.
20:45I mean, we are at 1,10,000 rupees already.
20:48And there are expectations that this could further inch up by the time we come to Adhanteiras or Diwali at that point in time.
20:55How are you looking at gold and silver with respect to how to play that?
21:00Should it be via ETFs?
21:02Where do you see the demand going?
21:04And how do you look at some gems and jewelry stocks like a titan, for instance,
21:07gold finances like Muthut and Mannapuram Finance?
21:11You know, the entire ecosystem is going to blossom beautifully in the coming days.
21:16You know, globally, the Western world is unsure how they're, you know, going to de-dollarize,
21:22how they're going to have a soft landing.
21:24Because the only way available to them is to inflate away their debt.
21:28And that is going to be music for the price of gold.
21:32So gold should be inching even higher from here.
21:35And up to Adhanteiras, I don't see anything kind of, you know, this gravy train flowing down at all.
21:44Absolutely.
21:45So as far as stocks which are concerned, we like Capri Global,
21:49which is an incumbent young gun in the gold lending business.
21:54Doing very well.
21:55We also think Muthut and Mannapuram will do well.
22:00And whether you should be buying ETFs or you should be buying the silver metal itself or gold as such,
22:08is that option is available to you.
22:10Because Indian ETFs are relatively safe.
22:14There is no issues around them.
22:16You can even go and buy sovereign gold bonds where you get 2% interest, you know,
22:21from the listed markets.
22:23Fantastic.
22:25So those are the opportunities that one can actually explore
22:27when you want to look at gold and silver this festive season as well.
22:31Sajjan, coming back to you, in your survey,
22:33what are the other key takeaways that one should draw from this festive season
22:37apart from the ones that we've discussed?
22:40So another big trend is that of digital payments, Sakshi,
22:44where a lot of folks who are making these purchases online,
22:48they want to use digital payments as the mode of payment.
22:52That's, you know, another key takeaway.
22:54Another one is on when people shop online,
22:58they want the returns and refunds to work smoothly.
23:02That has been an area of concern over the last couple of festive seasons.
23:05So people expect, whether it's e-commerce platforms or quick commerce platforms,
23:10they streamlining how returns and refunds are processed in an efficient way.
23:16They are done in a transparent way.
23:18So that way, you know, it's a hassle-free purchase scenario
23:22and shopping scenario during the festive season.
23:25Fantastic, Sajjan.
23:26Thanks a lot for being with us, Sajjan,
23:27to share with us all of those details from your recent survey.
23:30Looking forward to the festive season and the bumper demand
23:33that GST rationalization is going to give the economy also a boost as well.
23:39Thank you so much, Sajjan.
23:40Good to have you with us.
23:41We need to stay on with us.
23:42We'll just quickly check the markets as they, you know, close the day
23:45and, of course, come to you with an outlook as well.
23:4724,974 is where the Nifty is trading at.
23:50It's a 107 point of a bump up that we're looking at on the Nifty as well at this point.
23:56Let's look at the key contributors here.
23:58The top movers include BEL, that's Bharat Electronics,
24:02about 4.5% higher, 388.
24:05After a long haul, you're actually looking at this defense maker.
24:08Also moving up in tandem, you have Wipro, HCL Tech.
24:10From the IT pack, then you also have HDFC Life Insurance.
24:14Bajaj Finance also that's ticking higher in trade among the top movers on the Nifty.
24:19On the downside, I've already marked out that most of the stocks are from the auto pack,
24:22seeing some profits being taken off.
24:24And Ultratech Cement as well, that's seeing some profits being taken off as well.
24:28Let's look at the PSU banks where the momentum is.
24:32The index is up by about 2-odd percent in trade.
24:35And of course, largely led by Bank of India, Union Bank, Indian Bank, Bank of Maharashtra, Punjab and Sin Bank.
24:42These are all the banking counters that are hovering higher.
24:44Mid caps and small caps are also buzzing in trade.
24:46From the Nifty 500 basket, look at some names that have rallied in double digits.
24:51Indocount, 20 percent higher in trade.
24:53Coastal Corporation is up by about 20 percent as well.
24:57Look at even Avanti feeds, Apex Foods.
24:59Remember, all these shrimp exporters are actually up in trade on the back of European Union,
25:05approving over 100 Indian companies for exports to the EU.
25:09And therefore, you are seeing a clear bump up that's happening across the space.
25:13Prostam Infosystems, one of the recently listed stocks, also up by about 8-8.5 percent as well.
25:19Bellspun Living, we've already marked out the textile names that are clearly buzzing in trade.
25:24Coming back to Vineet, that's where the markets have ended at, 24,979.
25:28We have the sixth consecutive day of moves, but tomorrow is where the Sensex will expire as well.
25:34And we've been seeing this session as a sandwich between two expiries has continued to move up on the positive ground as well.
25:41Vineet, apart from the sectors that we've discussed, where else do you find opportunities for investors in the coming weeks?
25:46Vineet, I think, you know, you should focus on these sectors only.
25:52Consumer durables, consumer finance, banking.
25:57You know, I think the domestic banks will also do very well.
26:02Because, you know, when you have good news on the tariff front,
26:05you know, it means that their credit and their NPAs are not going to be adding up.
26:10So, Canada Bank, SBI look very positive.
26:14Additionally, you know, people forget that, you know, the insurance stocks are going to really have a dream run.
26:22Because, you know, when you cut back on the GST, you know, you're going to keep the amount same when you pay your insurance.
26:29So, it means that the average insurance premium is going to be higher.
26:32And it's going to be quite a jump on a IOI basis going ahead.
26:37So, we like this space also.
26:39And, you know, with the FIS top selling in the Indian markets, you know, we've seen positive numbers come in previous day.
26:46So, that will add to the glitter around, you know, the AMC stocks also.
26:53Okay.
26:54Vineet, I thought that you'd also mark out for us the primary market space.
26:57But I'm going to point that out to you.
26:59Three IPOs that have opened today, it's actually turned out to be a wild Wednesday of sorts.
27:02Indians have poured 2700 crore rupees in just four hours in a never-ending appetite for the IPOs.
27:08It's Urban Company, one of those companies that we are very used to in the urban areas to use formalized home services now.
27:15That came up with the IPO.
27:17And we also have seen, you know, Sringhar Mangal Sutra IPO getting fully subscribed.
27:23We've also seen Devex from the office space, company space as well, also getting fully subscribed into focus.
27:30Already this year so far, 60,000 crore rupees of fundraising has happened through the IPOs.
27:36And the markets seem that there is no lack of appetite from the investor side.
27:40In trade today also for Urban Company, which is the largest tech-enabled home services marketplace,
27:45has received over 20.4 crore shares in bids as against 10.7 crores that were offered.
27:51That is 1.9 times more than the offer size.
27:55When we look at Devexcelerator, that's even seen a stronger response of 3.5 times the issue size getting subscribed.
28:01How are you looking at the IPO space and how investors are feeling that there is no lack of liquidity there to keep on pouring for as many IPOs as they are coming in?
28:11And any suggestion on these three IPOs that have come up?
28:15I think Urban Company is going to have a stellar listing.
28:18We think that there's a lot of, you know, more left on the table for investors.
28:24So it is going to have a very good listing.
28:25Even the accelerator is going to do well.
28:28So these two other stocks that I think will do very well from the IPO space.
28:34As far as the future IPO space are concerned, it's going to be raining IPOs endlessly.
28:42You know, just like our rainy season has been endless.
28:45The IPO rain is also going to be endless.
28:47As more companies trap Indian markets and domestic investors are really wanting to spend that.
28:57Absolutely.
28:58Well, Burdi, thank you so much then for being with us on the show.
29:01It's always a pleasure to seek all those wonderful insights for all our viewers of India today from you as well.
29:07And with that, viewers, that's a wrap on Business Today's show.
29:10Don't miss the market opening show tomorrow morning at 9am with Abba Bakaya,
29:13giving you the first word on everything that will move the markets.
29:17We'll see you next time.
29:18We'll see you next time.
29:19Bye.
29:20Bye.
29:21Bye.
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