Dalal Street is witnessing volatility this week -- dragged by the new COVID strain and boosted by the US Fed's stimulus. Andrew Holland, CEO of Avendus Capital Alternate Strategies, on Tuesday said they have been hedging as the market is looking over-extended but he added that it has held irrespective of the challenges.
Sectorally, Holland said that there are some great tailwinds for the IT sector though valuations are a bit high.
“It’s a sector which will continue to do well. Therefore, I would say there are some great tailwinds for the IT sector. Valuations are high, but they will still continue to move up,” he said while speaking to CNBC-TV18.
According to him, the growth in Asia will be led by China and 2021 will see money moving towards Asia. “India’s weightage is high in Asia so we will continue to get money,” he said.
For entire interview, watch the video