Our financial dependence on broking is now far lower: ICICI Securities CEO

Retail investor behaviour so far has been mixed in terms of market activity. Indirect investment through mutual funds has improved significantly, said Vijay Chandok, MD & CEO, ICICI Securities

The recent banking crisis in the US and Europe, coupled with rate-hike fears by global central banks, has dented market sentiment over the past few days. Vijay Chandok, managing director and chief executive officer, ICICI Securities, in conversation with Puneet Wadhwa, says the recent turn of events could turn central bankers dovish. He believes this may revive global equity market sentiment to some extent. Edited excerpts:

Do you expect global central banks to go slow on rate hikes?

The US Federal Reserve (Fed) raised interest rate by 25 basis points (bps) and signalled that the banking system turmoil may end