The Indian market has been swinging lopsidedly and therefore Parul J Saini executive director at RBS Asia Securities feels it is time to be cautious. "Fund flows have started slowing down nor are the fundamentals too strong here. Moreover, the inflation trajectory is not very encouraging. It could stay above 8% till September 2011 and for the full-year it may come in around 7%," he says.
In an exclusive interview with CNBC-TV18, Saini says he expects the Sensex to go back to 17,500 in near-term and the Nifty may remain in the range of 5,000-6,000 this year. Oil continues to be a major cause of concern for him. "Even though global oil prices have cooled off a bit, prices in India are still hovering around the USD 117-118 per barrel mark. Those levels if sustained would have a significant negative impact on the current account, the fiscal deficit and the market borrowings," he says, adding that market borrowing could be higher due to oil prices. Below is a verbatim transcript of his interview with CNBC-TV18Discover 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!
