Domestic fund managers have turned bullish on the equity markets with the easing war clouds. Fifty per cent of the fund managers believe that markets are undervalued more than 25 per cent (compared with the 30 per cent last month) and the war fears seem to have provided a buying opportunity.
The fund managers are also expecting double digit returns from the market over a year, with over half the fund managers expecting the index to be above 4,200. Over a one month period, the expected index range is 3,400-3,600. These are some of the findings of the Merrill Lynch survey of domestic fund mangers released today.
The survey which was carried between June 10 and June 27 was conducted to get the fund managers