See FY17 earnings growth at 15-17%; bet on banking sector: IL&FS

Financial year 2016 was a rollercoaster period for the Indian equity market on the back of international concerns from China and volatility in commodity prices and European market coupled with poor monsoon and non-performing assets (NPA) issue domestically, says Vibhav Kapoor of IL&FS. Speaking to CNBC-TV18, Kapoor says that FY17 could see 15-17 percent earnings growth. In addition, Kapoor is of the view that Nifty may reach 8,700 by March next year and consolidate at current level.While banks are underperforming globally, he says stabilisation in commodity prices will help the recovery in the same. Back home, he is positive on banking sector and expects it to give good returns this year. Furthermore, Kapoor says automobile and fast moving consumer goods (FMCG) sector should do well going forward.Meanwhile, talking on the global markets, Christopher Palmer, Founder and CIO, Benson Avenue Capital, says the Federal Reserve hinting at an interest rate hike in the future is guiding currency values globally. Though there are headwinds like lower growth, recession and inflation for countries across the globe, East Asia, particularly India, will be a beneficiary of weaker US dollar and will react positively.Watch video for more