How will Fed decision impact Indian market's fate?

As the event– the Federal Open Market Committee (FOMC) decision on rate hike— that has hogged maximum headlines the past few weeks comes close to being unfolded, there are markets globally preparing for their fates to be tested. And here are some market experts analysing how the Indian equity market will be impacted in case of a rate hike or an absence of one.  

Speaking to CNBC-TV18, Robert Parker, Credit Suisse says a positive market reaction is waiting if the Fed decides to hike the interest rate. While if it doesn't, it may cause a significant jump in volatility, globally. He believes an "under-pressure" Federal Reserve will do nothing but hike. and expects the first move to be moderate (on the back of global market movements). Parker believes that the emerging markets would remain underinvested and part of outflows will go to cheaper emerging markets. However, he is of the view that the growth is not going to be exciting even in 2016 on the back of growing inflation.Backing Parker’s views, Ajay Srivastava, CEO, Dimensions Consulting, says any rise in interest rate will not be positive for India as the cost of funds will rise for Indian economy in contrast to the Indian equity market, which is insulated by a "faithful and strong" market demand.However, the best thing is that the anticipated move has had Reserve Bank of India easing the monetary policies, which has, to an extent, insulated Indian market from global forces.The other experts include Jonathan Schiessl, Head Equities, Ashburton; Brian Jacobsen, Chief Portfolio Strategist, Wells Fargo; Richard Clarida, Globl Strategic Advisor, Managing Director, PIMCO; Mark Vitner, Managing Director and Senior Economist, Wells Fargo Securities, LLC and Brijen Puri, Head of Markets, JP Morgan. Watch video for more