Sanger sees the Nifty slipping below 8000, and says he will use the opportunity to selectively buy stocks. He says crude prices are unlikely to fall below USD 40 a barrel
Sanger sees the slowdown in China continuing and Europe, Japan being under pressure in 2015.
Arvind Sanger believes Bernanke‘s testimony on Wednesday was benign and the tapering of quantitative easing will totally depend on the US economic data.
Macro economic data will be key to market performance going forward, Sanger says. The current account deficit for January-March has been much below market estimates.
In an interview to CNBC-TV18, Sanger said Asia is not facing `silly risk' although Japan has begun pumping liquidity. He sees China and Europe struggling with subdued growth and says gold has no chance of resuming its rally.
A weak rupee and a total lack of confidence shown by domestic investors are major risk factors facing the market.
Indian market, which was one of the best performing markets in the world in Feb-March is losing its sheen now. Unable to give a fillip to the market, the not-so positive Budget only hurt sentiments. This has kept investors at bay on worries of any policy reforms.