'Markets have not hit the bottom yet; select banks, autos attractive'

Direct impact of rising interest rates might already be discounted by the markets, but secondary impact is not yet fully priced in, says Varun Lohchab, head of institutional research, HDFC Securities

Though the Indian markets saw record foreign inflows of Rs 2.7 trillion in FY21, the overall net inflow stands only at Rs 1.1 trillion in the last seven years. VARUN LOHCHAB, head of institutional research at HDFC Securities, tells Lovisha Darad in an interview that the direct impact of rising interest rates might already be discounted by the markets, the secondary impact is not yet fully priced in. Edited excerpts:

FIIs have sold nearly Rs 2 trillion worth of equities so far in 2022. By when do you expect this to stem? Does India offer any silver lining as compared