Hiren Ved, Director and Chief Investment Officer of Alchemy Capital Management sat down with Nikunj Dalmia to discuss his thoughts on the current market conditions and possibilities.
Dalmia asked about the current environment and Ved said that the whole event was unexpected. He identified the moment the turnaround started, which is when commodity prices 'cracked', especially gold and crude industrial commodities. He attached the upswing of commodiities as the pull that the Indian economy has experienced in the past few years.
Dalmia then sought his ideas on global market corrections, to which he said, "I don't think that any market can be insulated, so at least from what I have understood over the last few years is that ever since the participation of global money in India has increased, the global context overwrites everything so that is very important. Now over and above that you overlay what is happening domestically. So if you have a situation where global is favourable and local is favourable, then you have the kind of move that we have seen because both are moving in tandem in your favour."
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