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May 02, 2011, 02.30 PM IST
The market has most often digested majority of negatives as well as positive floating around the world. But will the death of Al Qaeda leader Osama bin Laden too be just a passé or will it create major flicker in the indices here?
Raamdeo Agrawal, director and co-founder, Motilal Oswal Financial Services is confident that this will have a positive rub-off on global equity markets. "My sense is that if the September 11 attack had such a dramatic downside impact, fall of Osama would definitely have positive impact because this is good news which sinks slowly in the market," he told CNBC-TV18 in an exclusive interview.
He continues to believe in FY12 Sensex earnings per share at Rs 1,250. "We expect oil and gas, financial and information technology to do well going forward," Agrawal added. Motilal Oswal disappoints in Q4 Motilal Oswal Financial Services' consolidated net profit fell 52% to Rs 24.3 crore for the fourth quarter (January to March). This is because of absence of retail investors from the stock market and the scenario is going to worsen, Agrawal said. "However, we will not cut down on our retail exposure," he said. Further, he added that the shift in volumes towards options was impacting the brokerage business. The company's total revenues for the fourth quarter were down 24% at Rs 126 crore compared with the same quarter previous year. "We have very strong pipeline but closure of the deals are actually getting delayed from buyer side," he explained. Click here to read Agrawal's interview transcript.
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