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FIIs not too pessimistic on Indian equities: Samir Arora

Posted by sandhyaravii on June 19, 2012

Despite all the negative news pouring in from the economy, foreign investors have not washed their hands off the Indian market yet, which leads Samir Arora of Helios Capital to believe that they may not be overly pessimistic on India.

In an exclusive interview to CNBC-TV18, Arora points out that Indian markets have not fallen drastically in 2012. “In rupee terms we have gone up 8-9% and 3-4% in dollar terms, so the fact that you haven’t lost a lot of money is being felt by investors,” he said.

He goes on to say that the world is currently in a forgiving mood because investors have not been pained much by equities.

However, he agrees that it is high time the government takes a step towards reforms and making policy decisions which will help the economy, because reasons for the market to rally are running out.

The Reserve Bank of India has indicated that the ball is now in the government’s court to help boost the economy. Rating agencies S&P and Fitch have also put out warnings. Arora says “the government in some sense is getting it from every quarter, but they are not getting it in the end themselves as to what they should do.”

For the short-term, he believes it is a make or break situation for the country and the market, but has a more optimistic view for the long term.



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