Andrew Holland, CEO, Avendus Capital Public Markets Alternate Strategies thinks the banking sector as a whole – HDFC Bank because of its weightage in the banking index – has suffered because of the FII outflows. The banking sector would be one of the larger holdings for them. So that is why pressure has been seen on the banking sector for the last two three months, he said.
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Holland wouldn’t be rushing into the banks at the moment, he said.
He believes the market may see more sanctions on Russia and that could lead to a spike in oil prices.
According to him, one needs to be stock specific as pockets in Indian markets have seen sharp corrections.
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