Market will have to rely on domestic flows in the near term: IIFL

In an interview with CNBC-TV18, Ayon Mukhopadhyay, Director of IIFL Institutional Equities for UK and Europe spoke about his reading of the market and his outlook. He was speaking from the side-lines of IIFL's 3-day India Global Investors Conference.

I will not say that we are seeing a panic or something or exodus from the Indian markets but given that other emerging markets are doing quite well, the incremental money that is coming in, the allocation of that may not happen completely in the set of degree that we would expect to happen to India, he said.

I think the market in the short-term will definitely be reliant on the domestic flows that it has been. We had close to about huge amount of inflows in January and we had relentless selling in February but the February selling also has been a bit attributed to the global cues – in the short-term you will have to rely more on the domestic flows, he added.

For full interview, watch accompanying video…