US tapering will not have any negative impact on market: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities Pvt. Ltd shares his market outlook.

ET Now: We were talking about the two key events and how then into get out of the way for some deduction to come into the markets both of them are out of the markets out of the way now what do you think the markets do over the course of the next three to six months?

Sudip Bandyopadhyay: You are absolutely right everybody was waiting for these two events particularly decision on US tapering, what US Fed has announced is a very dovish stand. We can call it is a mild tapering and I do not think it will have any significant negative impact on any markets definitely not Indian markets neither US markets nor the Asian markets. Tapering had to happen and this is probably the best course of action as far as tapering is concerned. At any point of time I do not think we should assume that US Fed will do something which will lead to a major meltdown in the global markets so they are ensuring that and we should not be too worried.

As far as domestic markets are concerned it is more important that micro and macro fundamentals improve as far as Indian companies are concerned and if that happens India will continue to attract liquidity, we should not be worried about liquidity disappearing in Indian markets because of US Fed tapering. So over the next three to six months market will gradually consolidate and keep moving upwards, we had a decent set of numbers better than expected numbers in Q2.

We are expecting similar set of numbers in Q3 and starting January we will again start talking about the Q3 numbers for the large corporates and provided those numbers are encouraging. Indian markets will take positive cue, one more thing to remember is that the political uncertainty which was plaguing the Indian markets is to an extent put in the back burner, there will be re-emergence of these factors some time may be end March-April but as things stand for the next two months we are looking at a steady growth of the Indian markets based on sheer fundamentals and the improvement of those.