Market may be less sensitive to Fed meetings in H2CY22: Bernstein MD

'We still see a range-bound market but have lowered the range to 13,500-16,000 for the Nifty50'

With the latest retail inflation in the US coming in at over 9 per cent, ahead of the Federal Reserve meeting, Venugopal Garre, managing director at Bernstein, tells Puneet Wadhwa in an interview that the FII outflow from India will be lower in the second half of 2022, as certainty emerges on the extent of global macro weakness. Edited excerpts:

Will the markets see a sell-off every time policymakers at the US Fed meet, or have they digested the likelihood of sharper rate hikes?

This pattern may not repeat to the same extent every time, especially if the inflation trajectory pans out