Crude a bigger risk to mkt than high valuation: Prudential

Santosh Nair
moneycontrol.com

Rising crude oil prices, not expensive valuations, pose the main threat to the ongoing rally in global equity markets, says John Praveen, managing director of US-based Prudential International Investment Advisors. This is especially true for oil importing nations like India, which have risen 15-20% since the start of the calendar. Brent crude has risen over 15% in the last couple of months (45% over the last one year) since Iran got aggressive about its nuclear policy. In the first nine months of the current financial year(April-December), India