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Port Shelter’s Richard Harris: Pullback is an opportunity to buy; yields moving to sensible levels

Updated : March 01, 2021 09:48 AM IST

A significant pullback in the Indian market is an opportunity to buy, said Richard Harris, chief executive at Port Shelter Investment Management, on Monday.

“We should not be surprised to see a pullback every now and then (in India); even if saw a significant pullback, I still think it’s an opportunity to buy,” Harris told CNBC-TV18.

On Asian markets, he said, “Although we had a lot of carnage in the modern market last week, in some cases it is not such a bad thing that we are looking at yields may be moving to more sensible levels, certainly in Europe instead of being negative, hope we will see yields positive as they should be.”

Speaking about markets, Harris said, “However, the fact that there is so much liquidity around that the markets do not seem to want to go down. Normally if you had a crisis in the bond market like the equity markets, you wouldn’t see 1-2 percent often a day, you would see 4-5 percent often a day. So that is quite positive.”

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