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Jan 02, 2018 11:40 AM IST | Source: CNBC-TV18

Not fair to get carried away in 2018 considering market performance in 2017: Udayan

Cautious on the market currently, said Udayan Mukherjee of CNBC-TV18 in an interview to Latha Venkatesh, Sonia Shenoy and Anuj Singhal.

CNBC TV18 @moneycontrolcom

Cautious on the market currently, said Udayan Mukherjee of CNBC-TV18 in an interview to Latha Venkatesh, Sonia Shenoy and Anuj Singhal.

He further said that it is not fair to get carried away in 2018 considering market performance in 2017.

According to him, the big theme of 2018 is return of volatility.

He also mentioned that we may see 8-9 percent correction in the market going ahead.

Talking about bond market, he said discomfort in bond market will trickle down to the stock market.

On market front, he said market needs to take note of combination of circumstances with macro needs.

"This year is the year of litmus test for earnings because the market has already taken multiples to a point where it is saying we priced in earnings growth; forget about expecting and hoping. It is in the price right now," he said.

Leader of the rally, Bank Nifty, is showing distinctive signs of slowing, he added.

Compulsion for the government is high to impose long-term capital gain (LTCG) tax in the upcoming Budget. However, market may see the overdue correction if LTCG tax is introduced

For entire interview, watch accompanying video...
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