Expect mkt to move in narrow range in April: IIFL Cap

In an interview with CNBC-TV18, Deepesh Pandey, head of investments at IIFL Capital Pte, spoke about his reading of the market and the road ahead.

Below is an edited transcript of the interview on CNBC-TV18. Also watch the attached video. Q: What do you think of this uncertainty over the tax situation, concerns from FIIs and whether it will have a lingering impact on the market?
A: It should have lingering impact on the market because there is no clarity on the possible tax impact. The government needs to quickly announce the methods it will use to establish whether a entity based in or investing out of these tax havens is supposed to pay taxes.  This remains a concern and is already reducing foreign flows in the last few days. Q: How do you see April panning out for the market?
A: Yes, April is an interesting month. You have the monetary policy and the IT sector results starting with Infosys. You also have the fuel price hike. But if you think logically, in the very short-term, except for outcomes of monetary policy where there could be rate cut ranging from 25 to 50 bps, there isn