The big story today is the market with the Nifty scaling mount 10,000 once again as the Nifty Bank got its mojo back.
In an interview to CNBC-TV18, Arvind Sanger, Managing Partner, Geosphere Capital Management spoke about his reading of the market and his outlook.
Global cues – hurricane Irma not as damaging as have been feared and global inflation looking subdued are important factors not just for the US markets but also for the Indian markets, he said.
Earning recovery in India, in the last quarter, wasn’t anything to write home about but the expectation and the hope is that once the disruptive effects of goods and services tax (GST) gets absorbed, there is upside, he added.
September quarter is a transitional quarter, said Sanger.
I feel very confident that we should be going in the second half of this fiscal year maybe even mid-teens kind of earnings growth and then FY19 should continue with that trend. So we are on the cusp of many factors that should drive positive earnings momentum, he further mentioned.
Speaking about metal, he said the metal sector has had a huge move driven primarily by China data looking better. I am not sure I have enough information on what is going on with Tata Steel but they are the beneficiary of rising steel prices, he added.
On IndusInd Bank’s deal with Bharat Financial Inclusion, he believes that this deal will give the bank further exposure into an entire growth opportunity in the low-end financial space.
We are very bullish on the outlook for the financial sector long-term, we are remaining very positive, Sanger further said.
For full interview, watch accompanying video...
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