Institutional investors expect earnings to normalise in FY19: Jigar Shah

The market is getting expensive but isn't in a bubble phase, says Jigar Shah

With the benchmark indices in India trading at all-time highs, JIGAR SHAH, chief executive officer, Maybank Kim Eng Securities, feels rising global rates, protectionist measures, Brexit-type events and China’s next economic strategy are some of the risks the markets now face. On the domestic front, the biggest challenge is to increase investment and job growth and resurrect the banking system, he tells Puneet Wadhwa. Edited excerpts:

What do you make of the run-up in markets this year, without a meaningful recovery in earnings? 

The market is getting expensive but isn’t in a bubble phase. There is a healthy sector rotation taking