«At some level I believe and we believe that HNIs and family offices have also joined the selling party, so a lot of selling is coming and domestic institutions while they have been buying but the firepower will start depleting soon. So, we have to be careful. Things can improve drastically and dramatically also, but as things stand today, situation does not look too promising,» says Sudip Bandyopadhyay, Group Chairman, Inditrade Capital.
What explains this kind of crash that one is seeing today, I mean what is spooking the markets because the markers seem to be indicating that there is stability today, even the rupee is actually holding up and straight from the budget to the RBI rate cut to earnings all has been falling pretty much well in place well?
Sudip Bandyopadhyay: These things have been definitely falling in place but there are a lot of other things which is spooking the market. One is the global uncertainty. This entire new US administration's tariff war is kind of creating whole lot of uncertainties and you cannot predict or model the reaction or model the way things are going.
So, uncertainty is something which the market hates and pretty much that is the scenario where the markets are. And it is not only Indian market, the global markets are in that state as things stand today. On top of it, we have a situation where the valuations of Indian equities, I am not talking about today's connection, but pre-today even the valuation was rich vis-a-vis other markets in the neighbourhood as well as many markets
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