Micro, macro and geopolitical factors favouring Indian markets: Ajay Saraf

Markets activity will be robust but be careful around large events, says the head of Investment Banking and Institutional Equity at ICICI Securities

The domestic equity capital market (ECM) is witnessing one of its best phases, with record block deals and maiden share sales. AJAY SARAF, head of Investment Banking and Institutional Equity at ICICI Securities, says this is driven by tailwinds such as favourable macro, strong liquidity and encouraging earnings growth. Saraf, in an interview with Samie Modak in Mumbai, said the deal momentum will continue and there could be a brief pause ahead of the general elections next year. Edited excerpts from the interview.

The pipeline for both initial public offerings (IPOs) and block sales looks strong. What is underpinning