Some moderation in domestic flows cannot be ruled out: Rahul Singh

'Our investment strategy has been to stay balanced between growth and value, with higher interest rates likely to make markets much more valuation-conscious than in the past few years'

It has been a circumspect start to the second half of calendar year 2022 (CY22) for global financial markets as they look for tangible evidence of inflation being restrained by global central bank actions. RAHUL SINGH, chief investment officer for equities at Tata Asset Management, in conversation with Puneet Wadhwa says clarity on global macros will be critical to providing further direction for equities. Edited excerpts:

What is your outlook for markets for the rest of CY22?

The Nifty50 is now trading at a forward price-to-earnings multiple of 17x, which is below the past five- to 10-year average. It, however,