There cannot be a call for a runaway bull market, till we get more certainty on the elections next year, Mukul Kochhar, head of equities, Investec Capital Services, tells ET Now.Edited excerpts: How are you looking at the market right now given that we are going into elections? The news flow is improving on the macro side. The disruption caused by fiscal stimulus in the US may not be repeated post the Republicans ceding majority to Democrats in the House of Representatives in the US. With a divided Congress, it would be difficult to pass any disruptive law in the US. It is a negative dollar, positive EM event and so it is good for India. Oil also has cooled off faster than anybody expected. We were mentioning to clients that post Iran, there could be some softening in crude but the extent of softening has taken everybody by surprise. That is a substantial positive for India. A $15 cut in Brent crude is almost a 0.7% of GDP benefit to current account deficit. The situation is a little more comfortable there. There has been revival of trade talks between China and the US. Any thaw even in that context… Read full this story
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Bullish on beaten-down beta stocks in near term: Mukul Kochhar, Investec Capital Services have 253 words, post on economictimes.indiatimes.com at November 12, 2018. This is cached page on VietMaz. If you want remove this page, please contact us.