The Indian central bank on Thursday maintained its dovish stance and said continued policy support was warranted to help the economic recovery."There was some enthusiasm post policy. But, with global cues, again the outflows are going to happen. Though we are at status quo currently, if the rate hike happens in March in the U.S., the outflows will continue," said Anita Gandhi, director at Arihant Capital Markets.
Foreign investors have sold a net $5.58 billion in Indian equities so far this year, Refinitiv data showed, compared with a net purchase of $5.08 billion in the same period last year. Asian stocks fell on Friday, following U.S. markets which had sold off more aggressively overnight after data showed consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years."IT valuations are quite high. Though last-quarter numbers were pretty good, it is only Infosys where there is a talk of margin expansion or better guidance. Unless we are going to have an exponential rise , the valuation is not justified," Gandhi said.
Source: Loan Digest (loandigest.net)
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