0

0

0

0

0

0

0

0

0

market | IST

Prefer private sector banks, IT, insurance in India: Bank Julius Baer

Mini

Bank Julius Baer & Co likes private sector banks, IT sector and insurance sector in India, Mark Matthews told CNBC-TV18.

Bank Julius Baer & Co likes private sector banks, IT sector and insurance sector in India, Mark Matthews told CNBC-TV18.
“We still like the private sector banks, the IT sector, insurance, those are the three that I can think off the top of my head,” he said.
On the Indian equity market, Matthews said, “People should be invested in India. And the reasons are, we all know, the tax collection has been off the charts this year. COVID-19 vaccinations are beating expectations substantially and the earning cycle is clearly very robust. So to me, these are not negative headlines.”
According to him, the US Fed is more concerned with the reaction of the market to tapering. “The Fed is more concerned about the reaction of the market to tapering than tapering’s impact on the economy. And given that there is no pressing need to taper, I think they simply felt -- we will make it in November, so we don't cause a taper tantrum. So, we don't get the market upset,” said Matthews.
For the entire interview, watch the video