homevideos Newsmarket NewsExpect relief rally in India after COVID 19: Port Shelter’s Richard Harris
Expect relief rally in India after COVID-19: Port Shelter’s Richard Harris
There may be some relief rally in India after COVID, said Richard Harris, chief executive at Port Shelter Investment Management, on Friday.
There may be some relief rally in India after COVID, said Richard Harris, chief executive at Port Shelter Investment Management, on Friday.
Speaking in an interview with CNBC-TV18, he said, “I have held on to India all the way through. India has been volatile on the upside, it has been quite a good investment.
“However, important is to look at the kind of synchronistic waves around the world and now it is almost India’s term of seeing a very large wave of COVID cases, but we are also seeing the market come off; as the epidemic starts to fade, some of the value lost in the market will come back. We have seen this in all markets around the world so there will be a minor relief rally as a result of coming out of COVID, but the big factors are inflation and the global market,” he said.
On US markets, Harris said, “Inflation numbers look quite serious. The Fed has taken a very dovish view on matters and most observers are now saying that they are way behind the bull; of course, it’s rather difficult for them because as soon as they do increase the rates, markets are going to fall.”
“Most market observers now feel that the Fed’s view that inflation is going to be transitory is not right because there is no evidence that we are going to see a bit of inflation and then it comes back to what we saw before. The general view is likely that we are going to see inflation figures in 5 or 6 percent level and maybe might come back down to 3-4 level, but certainly much higher than they were before. However, I do think it is serious but I do not think the crisis is coming just yet,” he said.
For the entire interview, watch the video
(Edited by : Abhishek Jha)
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