Banks good area to look into with steep yield curves, says Port Shelter’s Richard Harris

Banks, with steep yield curves, would be a good area to get into, said Richard Harris, chief executive at Port Shelter Investment Management, on Monday.

Speaking in an interview to CNBC-TV18, he said, “As a foreign investor I tend to look at markets like India and what are they good at; things like generic pharmaceutical are an area to be in. Banks, with steep yield curve, is a good area to get into. The export markets will pick up, so that’s an area to look at. Therefore, as a foreigner looking at the Indian market, I would be looking at what aspects does India give me that no other stock market, no other economy provides to me and I will be focusing on those areas.”

“On personal basis, the increasing (COVID) cases (in India) are extremely serious, but around the world we have got a kind of anti-cyclical movement. Countries are going into waves at different periods. Therefore, we are going to see the kind of sentiment in the market occurring on anti-cyclical basis, but the cycles are likely to ease down and ease off,” he said.