EMs face volatility, but India a bright spark: Richard Harris

Speaking to CNBC-TV18 Richard Harris, Chief Executive of Port Shelter Investment Management said if Donald Trump comes to power in the US, it will lead to a selloff resulting in a buying opportunity. Harris believes Trump is a highly unstable individual, and even if he becomes the US President, it will last for six months. He will be impeached, Harris adds. “The markets don’t look too bad and I think a Trump victory will lead to delayed reaction.”

Regarding the selloffs that are taking place in India, he said the subcontinent isn’t being singled out. Emerging markets as a whole have had a difficult month on a strong dollar, he said.

It is believed if foreign funds continue to take money out of India, India could underperform. Harris is bullish for the next 6-9 months. Although he agrees that EMs are facing volatility, he holds out hope as we are in 'timing game.' “My feeling is that if Hillary Clinton does come in, we may have sanguine times on the stock market.”

He said among the BRICS countries, India is very nearly at the top. He highlighted how South Africa and China are plagued by political troubles, while Brazil and Russia are impacted by oil. India should be benefitting from the oil price falling, he said, as it has fewer fundamentals against the market.Watch video for more...