With the markets scaling new highs, Jyotivardhan Jaipuria, founder and managing director of Veda Investment Managers, tells Puneet Wadhwa that he expects domestic/economy-related plays to do better than export-oriented sectors. Edited excerpts:
Where do you see the frontline benchmark indices a year ahead?
Over a year, the market is likely to give a positive return that could be high single-digit or low double-digit. However, (in) the near term, the market can be volatile and we could see a correction and time consolidation. The markets look expensive compared to long term averages but are probably discounting a sharp earnings improvement cycle.
