Leo Puri, MD, UTI Asset Management believes volatility is here to stay with the market losing ground on Friday, for the first time in last eight sessions, especially ahead of Union Budget week. Speaking exclusively to CNBC-TV18’s Ritu Singh, Puri said expectations about the upcoming Budget are running high and some investors could be left disappointed.
According to him, there will be some period of consolidation and definitely a fair amount of volatility going ahead. “We are expecting a lot of volatility driven both by global events, which is events in Europe, potential Fed tightening, geo politics but also domestic expectations around the Budget,” he added.
Puri further said that foreign investors have been the main drivers so far but it is good to see that domestic investors including high net worth individuals (HNIs) and retail investors have been participating. “It is important that they stay in the market, that they don’t actually panic and exit at the first sign of trouble,” he added.
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