Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies, thinks the banking sector as a whole – HDFC Bank due to its weight in the banking index – has suffered from outflows from FIIs. The banking sector would be one of the biggest assets for them. This is why pressure has been put on the banking sector over the past two months, he said.
Holland would not be rushing into the banks at this time, he said.
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He thinks the market could see more sanctions against Russia, which could lead to a spike in oil prices.
In his view, one needs to be specific to equities as pockets of Indian markets have seen sharp corrections.
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