Most global investors cautious of equities after sharp rally: Raychaudhuri

Manishi Raychaudhuri, head of Asia Pacific equity research, BNP Paribas, tells Puneet Wadhwa the reason for India being such an FII favourite is the breadth of stocks and sectors that market offers

The market rally since March 2020 lows has been led mostly by foreign institutional investors. MANISHI RAYCHAUDHURI, head of Asia Pacific equity research, BNP Paribas, tells Puneet Wadhwa the reason for India being such an FII favourite is the breadth of stocks and sectors that the market offers. Edited excerpts:

Are the global and Indian markets heading for a correction?

Since early September, the global equity markets first corrected and then entered a phase of sideways movement. Such a drift in the market engenders a ‘time correction’ in valuations and is a healthy phenomenon. The sharp rally since late March