Don't expect specific outperformance by Indian markets post US debt deal: Pankaj Pandey

In a chat with ET Now, Pankaj Pandey, ICICIdirect.com shares his view on the markets.

ET Now: Big global news this morning, with the passage of the US debt deal. How do you think India is likely to take it considering we have been hearing that ceiling of 6100 time and again?

Pankaj Pandey: Definitely this news is quite positive but having said that, Indian market performances on a relative basis have been better. So in this sense, this news would have impacted a lot of market and not specific to India.

We would not therefore, see a specific outperformance by India from that context but overall, it is a big relief because there was a big anxiety about what will happen in case this had not gone through. So, it is a positive for the markets in the short term but our sense is that going forward, earnings will probably anchor the market direction.