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Sunil Singhania on the current sell-off, top risks, where to fish, what to avoid

Founder of Abakkus Asset Managers and a veteran investor especially in mid- and small-caps talks about his investment strategy.

August 06, 2024 / 15:38 IST
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Sunil Singhania, Founder, Abakkus Asset Manager LLP

How do you view the current sell-off?

It is a bit worrying. These large shifts in global markets, especially currencies, are never good. They shake the confidence of global investors. Risk premiums go up. Plus, we have seen a big move in equities already for some time. Most markets have bounced back from the initial shock, and US Futures are also showing a positive trend, but this will take time to settle down.

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Possibility of a big sell-off in India?

India did not fall much yesterday. But today it bounced back smartly, only to give up the gains. There is some weakness – money-making had become too easy. This is the time to be cautious for sure. On the brighter side, our macros are good. The monsoon should be good as well, so we could see a good festive season. The currency is fairly stable, and so are yields, but markets will remain volatile and take time to settle down.