The rally seen in global markets on Friday on the back of European Union Summit outcome seems to be fizzling out too soon and that is because the market is disappointed with the outcome said Richard Gibbs, global head, Macquarie Securities.
Speaking to CNBC-TV18, Gibbs said that we need to see more work on fiscal co-ordination among the eurozone countries, till then capital flows to emerging markets and risky assets will be under pressure. Meanwhile, Gibbs is cautious on India, concerns about policy logjam and lack of leadership are the reasons for the same. "For Indian equities to recover, signal from the RBI contemplating and moving towards easier monetary policy is required, he said. He expects India to grow at the rate of 6.9% in FY12. Below is the edited transcript of GibbsDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
