There is a risk-off sentiment in global equities: Arindam Ghosh, BlackRidge Capital

In a chat with ET Now, Arindam Ghosh, CEO, BlackRidge Capital Advisors, shares his views on market outlook, Excerpts:

ET Now: If I just map the market environment, China is in a mini mess, emerging market currencies have their own issues, growth is still anaemic yet Indian markets have moved from 5900 to 6500. What explains this action?

Arindam Ghosh: The fact is that today we are in an environment where the markets have been gyrating between risk-on and risk-off with intermittent dull periods. If you look at what is happening today globally, there is a risk-off sentiment which is playing out but if you look at India, FIIs have been rushing and pulling money into the Indian markets. So there is some kind of of course a hope rally which is playing out but it has run probably ahead of its fundamentals. So once we have reasons to feel optimistic but we should not get carried away.