Here’s what India’s top market investors think about demonetisation

He said Modi's demonetization drive is a huge lab experiment which will hit large and small cap stocks hard and wipe out the bull run in the market. He said the cash squeeze will certainly hurt growth to some extent in the short term, but in the long run, it will be positive for India's structural story.

Veliyath said demonetisation won't stop corruption and black money, but it's one of the steps (the only one painful to every citizen) initiated by the nation. Veliyath said demonetisation will bring in 20 years of gain. It is a rare opportunity to pick value bets in Indian equity market.

Nimesh Shah termed demonetisation as a good step in the long run. “However, given the size of the cash economy in India, a step like demonetisation could result in some short-term problems,” he said.