The markets are poised at an interesting juncture. After the dream run in the past year, indices saw some correction recently. But is the worst over? UBS Securities is not hopeful of a repeat of the significant outperformance of the market action seen last year, at least not in the near-term. But IPOs and brisk domestic buying are definitive bright spots for the markets.
In an exclusive conversation with Financial Express.com, Sunil Tirumalai, Chief GEM Equity Strategist at UBS Securities highlighted the huge IPO rush that we are seeing in the markets right now “We haven’t even completed the year, and it’s surprising to see that many IPOs which were supposed to happen next year are now getting pulled forward.
Of course, this is causing some strain on the market itself, because you need to find money from somewhere to fund these IPOs.However, he believes the strong buying by domestic investors has helped in maintaining the balance in markets to a large extent. According to him, one good thing that is really going for India, “is that domestic retail money continues to flow in. When I say retail money, I’m not just talking about people buying stocks on their apps, but also SIPs. The mutual funds eventually find their way into the markets.
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