Markets priced in rate cuts by the Fed and other central banks for a large part of 2023, Ashwini Shami of OmniScience Capital says. He expects the cuts in the range of 1.5- 2 percent this year.
There have been valuation concerns as Indian markets record run continues but Ashwini Shami, Executive Vice President & Portfolio Manager at OmniScience Capital, isn’t too worried.
Barring some pockets, the market is far from overvalued as there is a strong possibility of earnings expansion, he says. After accounting for normalised forward earnings, the market look reasonably priced, says Shami, who has spent more than 20 years in the financial services industry.