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Current market moves are sentiment driven, says Axis AMC

Updated : March 26, 2019 07:39 PM IST

For the last one month foreign institutional investor (FII) flows into emerging markets have been strong, including India due to the positive sentiment around political stability and continuity going into elections, said Jinesh Gopani, head-equities, Axis AMC.

When asked about the near-term risk to the market, he said the fundamental story in India is not great but at this juncture, it is more to do with flows.

Sector-specific, Gopani said financials is an evergreen story and if one wants a GDP growth of 6-7 percent then we need credit growth two times of GDP to sustain the growth rate.

With regards to autos, Gopani said it is also a good GDP multiplier story but the last 12 months have been bad because of slowing demand.
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