The Indian stock market is in a wait and watch mode ahead of the festival season and the overall trend in the short term is likely to remain weak, says MD and CEO of BOBCAPS Ratnesh Kumar.
In an interview with CNBC-TV18, Kumar shared his outlook on markets and specific sectors. "The general undertone of the market remains weak. Not only you have slowdown concerns domestically, but the global picture is also bleak in terms of trade as well as flows towards emerging markets. I think the market will bottom out sometime over the next 2-3 months, by which time we would get a clear picture of the festive season," he observed.
According to Kumar, the auto sector is affected more by financing issues owing to the NBFC problem than by the GST. "Till the time financing wheels begin to turn again in a smoother way, I think the demand situation will remain in the auto sector," he pointed out.Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.