Don’t Rush In To Buy Stocks Just Yet, Vikram Kotak Says

India remains a long-term “buy” market, but valuations are still not near the levels where investors should start to buy. That’s the word coming in from Vikram Kotak of Fortune Financial Services.

"There is definitely a lot of discomfort due to valuations," which could trigger multiple sell-offs in the coming months, Kotak, the managing director and chief executive officer of asset and funds at the financial services firm told BloombergQuint in an interview.

While these corrections will give investors opportunities to rejig their portfolios and buy good quality stocks, investors should be cautious as the markets could fall further, he said.

Also Read: What Just Happened? Six Views On How The Correction Finally Came

Fund flows from global and domestic investors could also slow down in the coming months as those who have been invested in the market for 10-15 years will look to book profits, Kotak added.

The S&P 500 Index fell over 8.5 percent since Feb. 1, while both the NSE Nifty 50 Index and the S&P BSE Sensex Index declined close to 4 percent in the same period.

Watch the full interview here.

Also Read
‘Markets To Consolidate For Some Time At Current Levels’
Global Equity Market Rout And Its Impact On Indian Equities: QuickTake