10-15% mkt rise in a month not good for India: Blackstone

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10-15% mkt rise in a month not good for India: Blackstone

In an interview with CNBC-TV18, Punita Kumar Sinha, Managing Director of Black Stone Group, spoke about her market outlook.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Nifty continues consolidation; telecom gains Global good news to push Nifty towards Jan highs Nifty may see expiry around 5250-5300: An analysis ALSO READ See what other FIIs are saying about the markets See what other experts are saying about markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 31/05/12 Are Mutual Funds betting on Nifty?

Below is a verbatim transcript of an exclusive interview with Punita Kumar Sinha on CNBC-TV18. Also watch the accompanying video.

Q: How are you reading the rest of 2010? Do you think it's a tricky call or are you sanguine about either direction?

A: No, I am in the camp that it is a tricky call and that markets will remain volatile. More or less we could see higher, highs and lower lows. Maybe not lower lows from what we saw at the depth of the crisis. However, we could probably see markets in a wide range this year, as we are going yo keep getting a lot of different data, which is going to be mixed and the markets are going to react to that.

Q: When you say higher highs, just to get it clear, are you talking about the old highs or the January highs, which is the recent intermediate peak?

A: Just a recent intermediate peak.

Q: Will the Sensex not touch 21,000 this year?

A: I don't know. As of now it's very hard to tell because we are still very early on in the year and the data that we are getting today, does not suggest such a sharp move. However, through the year, if we get better economic data across the globe and we see the situation stabilise, then fears of double dip go away, then possibly we could.

Q: We had a 10% global correction in the first quarter of 2010 but volatility levels have been pretty low, as reflected in the Chicago Board Option Exchange's Volatility Index (CBOE VIX). Do you think, as we get into the next few quarters, volatility will spike again?

A: Volatility is actually very low. The VIX levels are pretty low. In January we saw quite a bit of correction. February we saw rebound. In March we are sort of seeing rebound so far. Foreign inflows have been driving some of that. Overall, the globe has been buoyant. However, I am not so sure that the trend is going to be one way up. Hence, I do think VIX might fluctuate.