Expect to see wider participation of stocks this yr: Tata MF's Rahul Singh

'Investors should focus on building their portfolio in a disciplined way', says Rahul Singh

A fractured election mandate remains the key risk for markets, says Rahul Singh, chief investment officer (equities) at Tata Mutual Fund. In an interview with Ashley Coutinho, he says flows could be impacted in the near term even though the earnings forecast will hold its upward trajectory. Edited excerpts:

What is your outlook for the market in the year ahead? 

A fractured election mandate would be the key risk but the probability has reduced over the last couple of months. Moreover, it should be noted that earnings drivers for next year – corporate banks, consumption and private capex – are somewhat independent