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Last Updated : Mar 20, 2019 07:50 AM IST | Source: CNBC-TV18

Expect rotation of funds if the Indian market moves sideways: Richard Harris

"The Indian market has been rather positive and don't forget that the market does have a reflection on the economy," Harris said.

CNBC TV18 @moneycontrolcom

Richard Harris, chief executive of Port Shelter Investment Management, spoke to CNBC-TV18 about the upcoming US Federal Reserve meeting and global markets.

"The market has been going up and down. The Fed has already indicated that it sees the economy weakening, the US economy. The things are slowing down a bit but they still see some quite positive features. I don't think we should get too excited about this Fed meeting that they are going to say anything too much different," Harris said.

"Markets are likely to trade in a range. We have seen all-time highs broken suddenly in the US for a while but I think we are much more likely especially with economies starting to come off to see markets trade more sideways and if that is the case, we are probably more likely to see rotation of investors look to get returns elsewhere," he added.

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Talking about the investment opportunities in global markets, Harris said, "China is being weak, Europe is being quite weak, sideways moving market means people will start to rotate within the different investment opportunities and I think that is most likely to happen.".

In terms of India, he said, "India has been a fantastic market. Foreign investors have to deal with the currency from time to time but at the moment, that doesn't seem to be a problem. The market doesn't seem to go down. If you compare India with China, there is absolutely no comparison. The Indian market has been rather positive and don't forget that the market does have a reflection on the economy. The Indian economy is okay, the Chinese market at the moment looks very weak."

Source: CNBC-TV18

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First Published on Mar 19, 2019 03:40 pm
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