Wednesday, 18 January 2017

Budget 2017: Mkt to watch out for corporate tax, LTCG changes, says Edelweiss

Strong domestic flows are helping to hold up the market but Budget could be the next big trigger, says Vikas Khemani, President and CEO at Edelweiss Securities in an interview to CNBC-TV18. 

Strong domestic flows are helping to hold up the market but Budget could be the next big trigger, says Vikas Khemani, President and CEO at Edelweiss Securities in an interview to CNBC-TV18.

Foreign outflows, though a cause for concern, are more technical than fundamental, Khemani says.  Since India was on top of most emerging market portfolios so far, it was natural to take the first hit in case of any global uncertainties, he noted, adding, a favourable Budget can reverse the trend.

Khemani does not see any major disappointment from corporate earnings yet. The market is keenly watching changes in corporate and long term capital gains taxation in the Budget and will certainly cheer if these are constructive, he says.

Among sectors, he is positive on select companies in consumer staples, discretionary, private banking sector and BFSI spaces.
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