Markets To Consolidate For Some Time At Current Levels, ASK’s Prateek Agarwal Says
Global market fall shouldn’t create much anxiousness in India, says ASK Investment Managers CIO.
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The fall in the global markets shouldn't create much anxiousness among Indian investors, as the country wasn't getting much foreign inflows anyway.
That’s the view coming from ASK Investment Managers' Chief Investment Officer Prateek Agarwal. The portfolio management service provider won't change its strategy and will continue to build its portfolio on a regular basis, Agarwal told BloombergQuint in an interview.
The S&P 500 Index has fallen over 8.5 percent since Feb. 1, while the NSE Nifty 50 Index has declined 4 percent. Indian indices will continue to consolidate around the current levels for some time, Agarwal said, without specifying the time frame.
Negative triggers like the increase in bond yields, rise in inflation expectations, and the imposition of long-term capital gains tax have been priced in by the markets, said Agarwal.
If domestic flows continue, our markets will continue to be more focused on domestic events, as it should be.Prateek Agarwal, CIO, ASK Investment Managers
Watch the full interview here.
