Bulls in the Indian market are giving a tough fight to the bears. It has managed to bounce back on Wednesday after a sell-off in the last three trading sessions. Experts see potential in Indian market and say that the panic selling seen last week was only out of fear and nervousness.
Abhay Laijawala of Deutsche Equities India feels that investors' psychology is driven by fear and less backed by fundamentals. He is expecting India's earning growth to be at around 14% in CY11 and economic growth is likely to be at 8-8.2% in this fiscal. In an interview to CNBC-TV18, Laijawala said that global economic performance is going to be influential going forward. As an investment strategy, he is neutral on infra sector but positive specifically on L&T in the infra space. Laijawala is positive on tractors and 2-wheeler companies among auto stocks. Below is an edited transcript of his interview with Udayan Mukherjee and Mitali Mukherjee. Also watch the accompanying videos. Q: How are you guys feeling about the market? You have been quite bullish, but have things changed because of the global turbulence of the last one month? A: No; we overall continue to remain positive. But we do agree that events over the last couple of weeks are making investors very nervous. InvestorsDiscover 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!
