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May 11, 2012, 10.01 PM IST
Vikas Khemani, president and head wholesale capital markets, Edelweiss Securities says that domestic and international macro economic factors are the headwinds which are affecting market performance.
Vikas Khemani, president and head wholesale capital markets, Edelweiss Securities tells CNBC-TV18 that domestic and international macro economic factors are the headwinds which are affecting market performance. He says that unless these issues are not addressed soon, equities as an asset class will continue to take a beating.
Below is an edited transcript of his interview with CNBC-TV18. Watch the accompanying video for more.
Q: The Nifty is below the 4950 mark. Is it a good time to buy or do you think there is more downside in store?
A: Currently it has still not reached the time where the environment has changed. You still don’t have any significant indications that this is the bottom. As far as the macro environment is concerned the risk around the currency is still looming large, risk around inflation not coming down is still there. So if you look at the macro economic factors, look at any parameter, they are not really in good shape.
So until the time you get some confidence either from the government that they are ready put together some act or some macro economic factors either driven by the international factors or by any other form, I don’t think equities will start looking attractive in a hurry. I continue to maintain my view that equity as an asset class would continue to remain not so favorable till the time we see some change in the macro economic factors.
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