 "Sunil Tirumalai")
A softer-than-expected inflation reading in the US could lead to a global liquidity tailwind next year, but UBS is still cautious on India. SUNIL TIRUMALAI, strategist, UBS Securities India, says India’s high valuations and a depreciating rupee could act as headwinds for the domestic markets. In conversation with Samie Modak, Tirumalai says the reopening of China and rising domestic deposit rates could dim the appeal for equity markets. Edited excerpts:
What are the key underlying factors behind India’s outperformance over the past year?
Year-to-date (YTD), India has outperformed emerging markets (EMs) by 20 per cent (India is down 5 per
