On foreign flows, Damani said the focus on overseas investment data may be overstated. He pointed out that markets function with both buyers and sellers at any time, and price movements matter more than the source of funds.
For the full interview, watch the accompanying video
Looking ahead, he said markets may stabilise as geopolitical risks ease. “The worst years of the war are behind us now,” he said, adding that sectors linked to defence, infrastructure and local supply chains could see interest.
Also Read | AI capex intact despite oil risk; S&P 500 seen at 7,700: Citi’s Drew Pettit
Damani also highlighted changes in global supply chains and the need for countries to reduce dependence on imports. He said local production of raw materials and resources could gain importance.
He paid tribute to Mark Mobius, saying his work helped bring global investor attention to emerging markets, including India.
Damani said Mobius played a key role in shaping foreign investment flows over decades. He noted that a large part of inflows into emerging markets came after global investors began tracking these markets more closely.
Also Read | Mark Mobius dies at 89: The veteran investor’s take on India, AI and gold
“There’s a huge credit to him for opening up the minds of Western investors,” Damani said, referring to Mobius’ role in building interest in markets such as India.
Sharing a key lesson from Mobius, Damani said volatility should be seen as part of investing. “Don’t be scared of volatility. Volatility means opportunity,” he said. He added that market corrections often create entry points for long-term investors.
Catch all the latest updates from the stock market here
