Prefer private sector banks, IT, insurance in India: Bank Julius Baer
Bank Julius Baer & Co likes private sector banks, IT sector and insurance sector in India, Mark Matthews told CNBC-TV18.
Bank Julius Baer & Co likes private sector banks, IT sector and insurance sector in India, Mark Matthews told CNBC-TV18.
“We still like the private sector banks, the IT sector, insurance, those are the three that I can think off the top of my head,” he said.
On the Indian equity market, Matthews said, “People should be invested in India. And the reasons are, we all know, the tax collection has been off the charts this year. COVID-19 vaccinations are beating expectations substantially and the earning cycle is clearly very robust. So to me, these are not negative headlines.”
According to him, the US Fed is more concerned with the reaction of the market to tapering. “The Fed is more concerned about the reaction of the market to tapering than tapering’s impact on the economy. And given that there is no pressing need to taper, I think they simply felt -- we will make it in November, so we don't cause a taper tantrum. So, we don't get the market upset,” said Matthews.
For the entire interview, watch the video
(Edited by : Dipika Ghosh)
First Published: Sept 24, 2021 9:28 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Rapido offers free rides to voters to polling stations on May 13 in Hyderabad, 3 other cities
May 6, 2024 5:49 PM
Lok Sabha elections 2024: Seats to date, all you need to know about third phase of voting
May 6, 2024 4:49 PM
Concerns on low voter turnout a "myth"; absolute number of voters correct way to analyse: Report
May 6, 2024 2:57 PM
Haryana Lok Sabha elections 2024: A look at JJP candidates
May 6, 2024 2:26 PM