Indian markets looking strong: Daiwa Capital Markets

Are you a bit foxed with the market strength? Indian markets in last four or five days are outperforming global markets despite high commodity prices?

Puneet Shrivastave: No. Actually if you see on the negative side, you have issues like oil, power sector issues, oil and then inflation is ruling high. These issues are obviously bogging the market but if you see on the positive side, if you see most of the global funds, the regional funds are still very much underweight on India.

If you see the Indian focussed funds, they are also adopting a pretty neutral kind of approach and domestic funds obviously, insurers are getting some money towards the end of the fiscal year. From a technical perspective, market is strong. A lot of money actually is waiting, sitting at the fence to come in if the macro environment improves. From that perspective, the market is actually looking strong.