Market rally in 2021 to be much more broad-based: ICICI Pru AMC's S Naren

Global central banks are driving stock markets worldwide, including India, and there’s reason to be positive on equities until such time as inflation returns in the developed world, says S NAREN, executive director and chief investment officer, ICICI Prudential AMC. In an interview with Ashley Coutinho, he says current valuations are not very expensive, especially when viewed in the context of low interest rates. Edited excerpts:

What is your outlook for Indian equities this year?

We are of the view that the Indian equity market is in the midst of a bull market, driven by central banks of the developed world. We