Deven Choksey sees limited downside in Indian market
Deven Choksey of KRChoksey is of the view that the Indian market has a limited downside from current levels. “Given the kind of situation the global markets are operating in, wherein larger amount of funds are getting shifted back to equity, India is offering a very different, very strong kind of propositionto global markets. On one side, we are inviting a lot of money into the infrastructure space under a variety of programs that we have been conducting, including the Gati Shakti Yojana and also in the Budget, the provision of the amount that you are spending on infrastructure… On the industry side, the PLI scheme is attracting enough amount of local manufacturers to come into the country,” he says.
FPIs are looking at Indina markets favourably due to these two factors, he says.
“Fortunately, sellers in FIIs have now started to like buying, so to a greater extent, I would like to believe that the market is in a stable zone for the time being. We will see the bouts of profit booking in between and also select buying subsequently,” Choksey adds.
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