Market can give back 8-10% in this round of selling: Samir Arora

As the market has seen some selling recently, Samir Arora, founder and fund manager at Helios Capital, believes this might not just be a blip on radar and more selling may be in the offing.

“It can lose 8-10 percent,” said Arora in an interview with CNBC TV-18. “If those guys (US Fed) increase their policy rates, that creates a lot of problems for RBI. Whether they should increase rates or if not then what to do with currency.”

Last week, US Fed chairman Jerome Powell in an extremely hawkish speech said the Fed will keep raising rates for a while as inflation has not come down to comfortable levels. Following his comments, shares fell like nine pins across the globe.

Most of the selling was seen in technology names. Indian IT stocks were also among the worst hit on Dalal Street as investors factored in prospects of lower growth in key markets for them – the US and Europe.

To know more: https://www.moneycontrol.com/news/business/markets/market-can-give-back-8-10-in-this-round-of-selling-samir-arora-9107121.html