Have been long on oil and commodities since March 2020: First Global’s Shankar Sharma

Shankar Sharma, VC & Joint MD of First Global, in an interview to CNBC-TV18 said that oil has been India’s biggest problem.

“The other big problem is oil prices. That is an old bug there from the time I have been born. The only problem India has had is that everything is fine but oil is very high. If oil goes into this so-called super cycle that all the strategists and brokerage firms are talking about, then our goose is cooked because if we have rising bond yields which will again be a corollary, an outcome of higher oil prices because you will need to tighten rates to curb inflation which will then again push up the yields. It becomes a little bit of a pickle that we might get into. So, if oil goes to USD 70-100 per barrel, India suffers,” he said.

Markets complacent and over-fed on easy profits: Shankar Sharma