Welcome to ETMarkets’ Investors Guide, a show about asset classes, market trends, and investment opportunities. This is Bhaskar Dutta
NEW DELHI: Russian assault on Ukrainian cities, ports and major infrastructure sent oil prices past $120 a barrel this past week, triggering a risk-off trade globally. India, which imports about 80 per cent of its oil requirements, was at the receiving end.
Benchmark stock indices tanked up to 3 per cent for the week, with as many as nine Nifty stocks crore hitting 52-week lows on Friday.
Some economists suggested the recent 25 per cent jump in oil prices will expand the current account deficit by 75 basis points and inflation by 100 basis points on an annualised basis. With geopolitical tensions going bad to worse and the UP election outcome due next week, high volatility is a given.
This begs the question: Is it a buy-on-dips market?
ETMarkets talked to Deepak Jasani of HDFC Securities to know his views on the recent market correction and whether he thinks Dalal Street can climb the wall of worry.
Welcome to the show, sir.
>> What according to you has been priced in by the market as far as the Russia-Ukraine war is concerned?
>>Do you see a possibility of earnings disappointment in Q4 and beyond due to the surge in oil prices?
>>The outcome of the UP elections is likely in the coming days. Should one pay heed to it? How will the market react if the incumbent government loses or wins with less seats than last time?
>> Some clarity has emerged from the US Fed ahead of March policy review. How long can we continue to see foreign outflows? Many heavily FPI-owned stocks are under pressure. Do you see a recovery?
>>There are reports that the LIC IPO could be delayed due to the market volatility. How will the market read it? Will the secondary market take a sigh of relief or be worried over receipts?
>>Are we in a buy-on-dip market? What would you buy in this market? (Sectors/ themes)?
Thank you Mr Jasani. That’s all in this week’s Special podcast. Do keep checking this space for more such interesting content and take time out to follow our market podcasts twice every day. Stay safe and Happy Weekend!
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