FIIs gung-ho on India from medium-term viewpoint: Saion Mukherjee

'Given valuation comfort, we are still most overweight on China and South Korea,' says Saion Mukherjee

Factoring in the positives and negatives, there is still a downside risk to aggregate earnings over the next few quarters: Saion Mukherjee

Saion Mukherjee

Puneet Wadhwa New Delhi
It has been a topsy-turvy four months into calendar year 2023 (CY23) for global equity markets. Saion Mukherjee, managing director and head of equity research for India at Nomura Securities, in conversation with Puneet Wadhwa, says a big worry, not discounted by markets at current levels, is the possibility of weaker growth back home or a sharp cyclical downturn. Edited excerpts:

You had set a National Stock Exchange Nifty target of 19,030 in CY23 in December last year. Is this now looking unattainable, given the multiple headwinds of high-interest rates, inflation, and a possible recession?

The macroeconomic (macro) backdrop remains uncertain. We are now much closer to the peak of the rate-hike cycle. However, the policy environment may remain restrictive

First Published: May 08 2023 | 06:15 AM IST

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