Kunj Bansal, Senior Vice President PMS, Kotak Securities feels that the Indian market are in sync with the international markets. He said that the earnings numbers have been broadly in line with expectations. He added that the percentage of negative surprises and positive surprises this time are balanced. He is wary of interest sensitive stocks till the policy announcement in July 29.

Excerpts from CNBC-TV18's exclusive interview with Kunj Bansal:

Q: The market is in a kind of a directionless mode. Would you be reassured that we have seen the bottom for 2008 or is it uncertain?

A: It’s a difficult call. In the last one-week; three major events happened. Firstly, there is political stability in the country again. Secondly, the international markets have corrected about 15% and thirdly the monsoons are back. All these factors together has contributed to this rise. The markets have been in sync with the international markets, so I would keep a keen eye on the international developments.

Q: We are nearly at the end of earnings season, what have you made of the earnings so far?

A: They have been broadly in line. The percentage of negative surprises and positive surprises this time are balanced, whereas earlier it used to be more of positive surprises or positive growths.