2022 will be the year of consolidation for Indian equities: Raamdeo Agrawal

'Whenever the FPI mood alters, we will see both retail and institutional investors become buyers,' says Chairman, Motilal Oswal Financial Services

Both the primary and secondary markets may be in for correction in the coming weeks, says Raamdeo Agrawal, chairman, Motilal Oswal Financial Services. He tells Ashley Coutinho that foreign portfolio investors (FPIs) may return once the market corrects 10-15 per cent from current levels. Edited excerpts:

What is your outlook for Indian equities?

We have had a wonderful last one year from Diwali to Diwali and there might be some consolidation from here on. Foreign portfolio investors have stepped up their selling as they consider India to be among the most expensive markets in the world right now. But somewhere