8-10% correction to make Indian market more attractive: Bernstein’s Venugopal Garre
Bernstein Managing Director Venugopal Garre tells CNBC-TV18 that a correction of another 8-10 percent correction will bring the Indian market into a relatively more attractive zone. With the COVID fear now behind, he expects a good recovery in the Indian economy.
“The main thinking for us last year was that we had two episodes of COVID, the beginning of the year, and the fag-end of the year: Delta and Omicron. This year, we don’t really see that as a challenge. To that extent, we have, again, a very supportive base and, more importantly, we are of the view that some part of consumer inflation, of course, was felt last year as well. There is some base support that is sort of kicking in out there as well. Lastly, if I were to characterise the overall size of the economy, at this juncture, on real terms, the last one or two quarters is only when we have moved above COVID,” he says.
“There is no froth in the economy to worry too much. In that sense, we are still looking at seven percent GDP growth this year. Purely from a market point of view, my one line comment would be that we still follow a view of a rangebound market for a while given what is happening in the world,” he adds.