Vote on account 2014: Markets to remain range-bound for some time, says Geosphere Capital

In a chat with ET Now, Arvind Sanger, Managing Partner, Geosphere Capital Management, shares his views on the market. Excerpts:

ET Now: What about the market per se? What could be the next big trigger which is going to make the market take a leap either in one direction or the other?

Arvind Sanger: If you look over the last 3-6 months, India’s market has been one of the best performing amongst the major emerging markets. The currency particularly has been quite strong and the market itself has held up well.

However, the Indian market is suffering from the global concerns about the Fed taper. On the Indian front, the earnings were quite disappointing. Obviously, we are building in the hope rally on a clear government emerging, but then there is noise coming out of the whole Delhi government and the AAP situation, which does increase a risk of not having a clear government.

Hence, the markets -- between the global factors and the local factors – are going to be more range-bound than what I had hoped of. I am surprised by how poor the earnings this quarter were. Therefore, these factors are not about to lift anytime soon and the market will take some global cues.