Indian market kickstarted the year on strong note. Even after gaining almost 11% alone in January, it has not managed to woo Samir Arora, Fund Manager at Helios Capital. Though he has toned down his bearish outlook, he is still skeptical on Indian market.
In an interview to CNBC-TV18, Arora said, "I have still not turned to being fully bullish because if I look at either the world markets or India and stocks within that, the stocks that have gone up the most are the stocks which got hit the most but unlike in 2008 and 2009 when I believed that India had been unfairly hit."
He feels that the world markets may rally further only if the Greece default is averted. However, there are dangers of a sharp fall in the event of a negative surprise, Arora pointed out.
According to Arora, the current rally is led by deployment of existing cash with Asian funds. He is also hoping the Budget and the ongoing state elections results to be key domestic triggers for the market.
Talking about power sector, he thinks that coal issues will continue to be a major trouble maker. Below is an edited transcript of his interview. Also watch the accompanying video. Q: It
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