Hoping the Finance Minister doesn't present a populist Budget on February 28, Prasun Gajri, chief investment officer, HDFC Life says the FM should try and kick start investments, rationalise taxes and consolidate the fiscal deficit.
In an interview to CNBC-TV18, Prasun Gajri, CIO of HDFC life says, the surprise rate cut has given the market some momentum. “Globally also we have seen a risk rally after the easing of conditions in Europe yesterday. So, we could possibly see a new high in the short-term, but it is tough to say really at the moment,†he asserts.
Prasun Gajri, Chief Investment Officer, HDFC Life prefers banks and auto over infra space.
What a day a it turned out to be! The market closed the topsy-turvy week with a blockbuster rally. The Sensex closed 513 points higher at 18,240. Today’s rally has left experts perplexed. Some say the pullback was expected, but the quantum was surprising. While one of the market veterans says that the good news will only be short-lived.
Prasun Gajri, CIO, HDFC Life, in an interview on CNBC-TV18, spoke about his reading of the market. He cautioned that the market is going to be rangebound for now despite there is positive news on the global front on the back of falling crude prices.
Prasun Gajri, Chief Investment Officer at HDFC Life, in an interview on CNBC-TV18 says that insurance are one of the biggest contributors to the equity market. "Till recently, as much as 80-85% premiums came from ULIPs," he says.