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The article delves into the perspectives of Taher Badshah, Chief Investment Officer at Invesco Mutual Fund, on the Indian equity market post the recent Budget and general elections. Badshah highlights that the market trajectory will be significantly influenced by several key factors, including earnings growth momentum, the final monsoon reading, interest rate movements, and upcoming elections in the US and various states.
He acknowledges the impact of the increased capital gains tax (LTCG) as an adverse development, but emphasizes that India's strong growth trajectory within the domestic equity market should mitigate the negative effects. This implies that while the tax hike may be a cause for concern, the overall positive economic outlook and robust market performance are expected to balance it out.
Badshah emphasizes that factors like earnings growth, the monsoon's performance, and interest rates will play crucial roles in determining the market's future direction. The upcoming elections in the US and various states are also highlighted as potential influences. These factors collectively underscore the dynamic and complex nature of the Indian equity market, where multiple variables contribute to its performance.
Source: India's high growth will help soften LTCG blow: Invesco MF's Taher Badshah