Nov 19, 2012, 08.47 AM | Source: CNBC-TV18
According to Jyotivardhan Jaipuria of Bank of America Merrill Lynch, the key event to focus on is the Parliament session that commences November 22nd
Jyotivardhan Jaipuria (more)
Founder & MD, | Capital Expertise: Equity - Fundamental ,IPO
Michael Kurtz, Nomura: Nomura's Sentiment Indicator and Global Risk Appetite Monitor have both retreated to levels associated with risk aversion over the looming US fiscal cliff and foreign net-selling of Asia ex-Japan shares totalled roughly USD 1 billion. Earnings results have also not provided any rationale for fresh upgrades.
Jyotivardhan Jaipuria, Bank of America Merrill Lynch: Our view is that the key event to focus on is the Parliament session that commences November 22nd. If the opposition-sponsored motion opposing FDI in retail is defeated and FDI in insurance is cleared by Parliament, we believe there could be a rally in spite of the poor macro data. However, a turn in the economy is going to be a slow process and, hence, market gains will be moderate.