India can hit previous highs if global markets don’t worsen: Bank Julius Baer

Indian equity market can hit previous highs if global markets do not worsen, said Mark Matthews of Bank Julius Baer & Co, on Tuesday, adding that the firm expects 15 percent earnings growth for India.

In an interview to CNBC-TV18, he said, “The S&P is not going to go down a whole lot more and on that assumption, India can take out its highs.”

On earnings, he said, “We are looking for 15 percent earnings growth in the coming fiscal year (FY23). There are many other places in the world where you can get that. So it can continue to move higher and therefore go to new highs too.”

According to him, the majority of the earnings growth will be coming from financials, IT and oil and gas.

For the entire interview, watch the accompanying video