Markets looking for proactive action in government policy: Gaurav Doshi, Morgan Stanley PWM

In a chat with ET Now, Gaurav Doshi, VP Equity Specialist, Morgan Stanley PWM, gives his overview on markets.

ET Now: It seems like the bigger concern for the market is the policy paralysis that we are currently seeing. How hopeful is the market?

Gaurav Doshi: The market has always been pretty realistic in terms of expectations from the government. However, considering higher cost of capital, probably high inflation and slowing growth down, the market is looking towards the government for some reform agenda and some movement in terms of policy action. If it is not for policy action, we are going to see a lot more downgrades and a lot more de-rating in terms of earnings outlook for Indian equity markets which is not good. So, I feel right now the markets are looking towards the government for some proactive action.