Market being sold a false narrative for past few months: Saurabh Mukherjea

Serious foreign investors - pension funds, sovereign wealth funds, endowments - continue to load up on India, says Marcellus Investment Managers CEO Saurabh Mukherjee

Serious foreign investors — pension funds, sovereign wealth funds, endowments — continue to load up on India, says Saurabh Mukherjea, founder and chief investment officer, Marcellus Investment Managers, in an interview with Puneet Wadhwa. Edited excerpts:

Have the markets finally put all the negative news behind it?

The stock market was being sold a false narrative for most of the past few months. Several decades’ worth of data for both the US and India shows that interest rate hikes during growth phases help sustain bull markets. It is natural that when GDP (gross domestic product) growth accelerates, central bankers start