Market has started pricing in too much of hawkishness: Jitendra Gohil

'Within the EM pack, barring high valuation, India's fundamentals are superior. But if oil prices spike further, we might see another round of sell-off in India', said Gohil

It has been a topsy-turvy May for global equity markets amid multiple headwinds. Jitendra Gohil, head-India equity research at Credit Suisse Wealth Management, in conversation with Puneet Wadhwa says foreign investors are concerned about the premium for Indian equities. Edited excerpts:

Do you think the structural bull-run is still intact in Indian equities? Or are we headed towards a bear phase?

This correction is separating the valuation froth. As bond yields start to rise globally, the relative attractiveness of debt juxtaposed with equities is improving. We might see some rotation away from equities as global central banks raise rates and end their