He said India continued to be in a ‘long term bull’ market and the fundamentals of the economy continue to be robust.
“Any extraneous development which gives an opportunity to enter India’s long term secular bull market should be lapped up, Somaiyaa said.
“The market fall has been due to global macroeconomic concerns but when the dust settles India is most likely to stand out as an investment opportunity,” he added.
The fund manager also said that he expects corporate performance to improve going forward.
“We have seen this in the past and this time case for India is even better with good macros, reformist government and likely benefits to corporate numbers from cyclical upturn as well as initiatives like GST yet to roll out.”
Today, the Sensex is trading flat after correcting by around 6% on Monday on worries about global economy.
Motilal Oswal is one of India’s biggest financial services group.
The extreme volatility in the stock market seen today can be interpreted as a sign of confusion among investors about whether the correction will persist or is over.