Avoid financial service space, says Saurabh Mukherjea, Head of Equities, Ambit Capital.
Foreign institutional investors (FIIs) are exiting Indian shares pulling down the markets in recent weeks. Saurabh Mukherjea, Head of Equities at Ambit Capital tells CNBC-TV18 that another 10% downside will impact FII inflows.
Andrew Holland the CEO of Equities at Ambit Capital in an interview on CNBC-TV18 spoke about his reading of the Indian market on the back of the assembly election results in the country.
In an interview with CNBC-TV18, Saurabh Mukherjea, Head of Equities from Ambit Capital says, the Sensex will correct towards 16,000 levels in the next two months. Banks and non-banking finance companies (NBFCs) are likely to remain under pressure, he adds.
Andrew Holland, CEO – Equities of Ambit Capital in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee talks about where he sees the market headed going forward.
“Last week’s FII inflows were of about USD 600 million. It was the first week in four and a half months that we saw that sort of FII inflows,” says Saurabh Mukherjea, head of equities at Ambit Capital in an exclusive interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee.
In an interview with CNBC-TV18’s Saurabh Mukherjee, head of equities at Ambit Capital, spoke about his reading of the markets and the road ahead.
Andrew Holland, CEO of Equities at Ambit Capital tells CNBC-TV18 that investor sentiment has been affected due to negative global newsflow such as the tragic events coming out of Japan as well as the Middle East crisis. He says the price of oil remains a key concern for emerging markets like India.
The crisis in Japan coupled with uncertainty in crude oil prices may weigh heavy on the Indian market—that’s the word from Andrew Holland CEO-equities at Ambit Capital. He feels with oil prices being the key issue for India and investor sentiment being hit due to the tragic events in Japan, money might start moving back to emerging markets.
Speaking to CNBC-TV18, Dilip Dandekar, CMD of Camlin denied rumours about Ambit Capital buying stake in company.
Andrew Holland, CEO-Equities, Ambit Capital has no high hopes on the budget as the market is slipping. Surprised by sudden steep fall of market, he sees high inflation in to be a major concern in India.
The markets ran out of momentum in the day's session. Profit booking in the banking space weighed on the frontline indices, and the Nifty finally closed below the 6150 mark. The Sensex too shed over 60 points and shut shop at 20,498.