gold and silver prices, however this time addition twist has happen to this theory,” says Santosh Pandey, President & Head, Nuvama Professional Clients Group.
In an interview with ETMarkets, Pandey said: “Higher Yield has potential to derail equity rally globally including India, but strong dollar is good for certain sectors like IT/Pharma and Textile on Indian perspective” Edited excerpts:
Thanks for taking the time out. After a turbulent October we are witnessing a volatile November. What is your take on markets?
Market becomes jittery because of 2 reasons Macro uncertainty and Earning miss, both has affected our market in the last 30-45 days.
More than 50% of Nifty50's companies have reported below consensus numbers hence the possibility of 3%-5% earning cut for FY25E/FY26E.
Second attractiveness of the Chinese market (sub 10x 12m F PE) compared to India at (23x12m F P/E) and obviously US election positioning (EM to DM shift) has led to macro uncertainty for FII.
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