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Daily Voice | This CIO says India is relatively better positioned than peers, outperformance can continue

The Indian economy is relatively better placed than peers and advanced economies. In the near term, returns maybe moderate in India due to relatively higher valuations, global growth slowdown (or even recession) and some domestic slowdown as well.

January 05, 2023 / 09:31 PM IST
Sampath Reddy

Sampath Reddy

Under the export-oriented segment, "pharma and IT are among the preferred sectors now," Sampath Reddy of Bajaj Allianz Life Insurance says in an interview to Moneycontrol.

Even though there are concerns on global recession and a cloudy earnings outlook, valuations are now starting to look reasonable / attractive in pharma and IT sectors, especially after the underperformance in the previous calendar year, he feels.

With market participants and some government officials indicating divergence in capital gain tax between different asset classes, the Chief Investment Officer expects that there may be some announcements on rationalization or harmonization in the capital gains tax structure.

Reddy with more than two decades of experience in managing assets feels that market performance in 2023 may remain be stock-selective, so a bottom-up approach will be useful for investors.