Mark Matthews, Head of Research Asia, Bank Julius Baer & Co on Wednesday mentioned that the Indian market is unlikely to see a 10 to 15 p.c selloff.
“We like the Indian market but it has risen a lot. I do not think we are going to get 10-15 percent selloff in India,” he said in an interview to CNBC-TV18.
Matthews likes cyclical sectors like financials and auto in India.
“The vaccines have been rolled out and India can make a lot of vaccines, so we are sticking with our stats that we like the cyclical sectors – financials, autos and things like that,” mentioned Matthews.
Talking concerning the US, Matthews mentioned, “The main market is the US and almost 40 percent of the population has received at least one dose and that alone is enough to significantly reduce the chance of getting COVID and if you do get it your chance of getting seriously ill is very small. Therefore, don’t think that we will need to revise our forecast for the US down too much.”
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