With Budget 2023 approaching, expect Nifty, Sensex to be 'quite volatile' in January, warns Andrew Holland

Indian equity benchmarks BSE Sensex and NSE Nifty50 ended higher on Monday, snapping a four-day losing streak. Earlier in the session, the headline indices opened near flatline before moving higher led by financial and IT shares. Broader market indices mirrored gains in the headline indices. Nifty Midcap 100 and Nifty Smallcap 100 ended 2.7 percent and 3.8 percent higher, respectively. The headline indices ended at two-month low on Friday.

Speaking in an interview to CNBC-TV18, Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies LLP, said that Indian market will also have a keen eye on the budget moves. He also expects volatility to be quite high in January.

He said, "We have gone from goldilocks scenario to recession again, and the figures are still not supportive of the Fed reducing so quickly. So that is what is going to keep the volatility of the markets quite high enough, at least in January."