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Daily Voice | World War III bigger threat for global market than virus, says Amit Jain of Ashika Group

"Till now most corporate earnings are below expectations and in our view this trend may continue till September 2022. We may see some downgrades in selected sectors like IT, manufacturing and energy."

April 28, 2022 / 08:34 AM IST
Amit Jain is the chief strategist of Ashika Group and co-founder of Ashika Wealth Advisory

Amit Jain is the chief strategist of Ashika Group and co-founder of Ashika Wealth Advisory

"COVID may be a risk as cases are increasing not only in China but also other parts of the world but to me the bigger threat for the global market may be a possible World War III, which we already shared with media on July 12, 2020, and now looks a reality," Amit Jain, Chief Strategist - Global Asset Class at Ashika Group, said in an interview to Moneycontrol.

India is trading at a forward price to earnings of 22 while other European and Asian markets are trading at a forward P/E of 10 to 13, which shows India is almost at 70 percent premium, he added.

"As of now India and the US are the most expensive markets worldwide in terms of valuation. We cannot rule out further correction in Indian and US markets, as we believe this gap will narrow down by the end of calendar year 2022," Jain said.

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