Markets are stuck in a 'holding pattern'—until foreign investors stop pulling their cash out.
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Markets will likely stay range-bound until foreign outflows ease, said Abhay Laijawala of Lighthouse Canton.
- ✓Foreign investors hold 15 percent of the market, impacting trends.
- ✓While he remains cautious on consumer staples, he expects September-quarter earnings to accelerate, with Nifty 50 net profit projected to rise by 22-23 percent year-on-year.
Story at a Glance
- Category
- MARKET
- Reported By
- Moneycontrol
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
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Until foreign outflows ease meaningfully, the market is likely to remain range-bound despite positive domestic macroeconomic fundamentals, said Abhay Laijawala, Managing Director and Chief Investment Officer, India, at Lighthouse Canton, in an interview with Moneycontrol.
Foreign investors still account for a meaningful 15 percent of the overall market, making the direction of their flows an important factor in determining market trends, he added.
Meanwhile, Laijawala remains cautious on the consumer staples sector, which is currently trading at a 25 percent discount to its long-term valuation.
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