Equities will be the best performing asset class in 5 years: Porinju Veliyath

NEW DELHI: Equities will be the best-performing asset class over a period of five years, Porinju Veliyath, MD and Portfolio Manager at Equity Intelligence, told ET Now.

"I am confident about wealth creation process in equities over 5 years," said Veliyath.

The benchmark Sensex has lost over 1,000 points following RBI's monetary policy on Tuesday, when the central bank reduced the key lending rate on short-term funds by a widely-expected 25 basis points, which were already priced in by the markets. The post-policy commentary of governor Raghuram Rajan, which all but ruled out further rate cuts amid prospects of poor monsoon rains added to the nervousness.

Veliyath, however, added that it was important for investors to look beyond issues like monsoon and RBI rate cuts.

Giving his wealth-creation ideas, Veliyath advised to invest in Tata Power and GVK Power for the long term.

The S&P BSE Sensex started on a cautious note in trade Friday, tracking muted trend seen in other Asian markets. At 10:35 AM, the Sensex was down about 60 points at 26,743.

The 50-share Nifty was trading above its crucial psychological support level of 8100.