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In Pics | There is scope for another 10% correction in the market, says Samir Arora

Samir Arora, Founder and Chief Executive Officer at Helios Capital, sees scope for a further 10 percent correction in the market and expects the domestic market to bottom out when the US markets do the same. The veteran asset manager dismissed concerns that the current drawdown in the equity market is similar to the 2008 global financial crisis. Here’s what he said during a chat with Moneycontrol.

May 13, 2022 / 02:04 PM IST
Samir Arora, Founder and Chief Executive Officer at Helios Capital, sees scope for a further 10 percent correction in the market and expects the domestic market to bottom out when the US markets do the same. The veteran asset manager dismissed concerns that the current drawdown in the equity market is similar to the 2008 global financial crisis. Here’s what he said during a chat with Moneycontrol.
Samir Arora, Founder and Chief Executive Officer of Helios Capital, sees scope for a further 10 percent correction in the market and expects the domestic market to bottom out when the US markets do the same. The veteran asset manager dismissed concerns that the current drawdown in the equity market is similar to the 2008 global financial crisis. Here’s what he said during a chat with Moneycontrol.
Domestic benchmark equity indices have twice fallen nearly 15 percent since hitting their record highs in October 2021, with the Nifty smallcap 100 and Nifty midcap 100 indices entering a technical bear market. The sell-off over the past six months has been led by foreign portfolio investors, who have withdrawn more than Rs 2 lakh crore from local stocks over the past seven months as interest rates have gone up in the US and the Russia-Ukraine crisis continues to worsen.
Domestic benchmark equity indices have twice fallen nearly 15 percent since hitting their record highs in October 2021, with the Nifty Smallcap 100 and Nifty Midcap 100 indices entering a technical bear market. The sell-off over the past six months has been led by foreign portfolio investors, who have withdrawn more than Rs 2 lakh crore from local stocks over the past seven months as interest rates have gone up in the US and the Russia-Ukraine crisis continues to worsen.
Arora said that his firm “plays the odd” and the “odd is against high valuation” companies in the market.
Arora said that his firm “plays the odd” and the “odd is against high valuation” companies in the market.
Arora said that state-owned companies outperforming their “labels” were also on his buying list in the current market. (Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.)
Arora said that state-owned companies outperforming their “labels” were also on his buying list in the current market. (Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.)
Moneycontrol News
first published: May 13, 2022 02:04 pm
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