Market outlook 2012: Pain is here to stay for some more time, says Anish Damania, Emkay Global FinServ

Anish Damania, Head-Institutional Equity, Emkay Global Financial Services Ltd., in a chat with ET NOW talks about the market outlook in 2012.

Do you think come 2012 things will change or the pain is here to stay?

Pain is here to stay for some more time, though always we try to say that the second half will be better than the first half but right now it does not look like things are going to go away in a hurry, so we have a fiscal issue. We have lack of reforms. We have lack of political will to do a thing. We are caught in a situation where investments are not coming by. Now the consumption story is also on the verge of petering itself out given what’s happening on the farm prices and on the agricultural credit, which is now generating more NPAs as we go into the next year.