The Indian rupee has fallen by almost 11 per cent since August 1, thanks to rising risk aversion.
Given the strong growth in Asia and easy monetary stance taken by central banks other than the US Federal Reserve (US Fed), overseas investors will soon start re-investing in risky assets, says Abhiram Eleswarapu, head of equity research, BNP Paribas Securities India.
Net sales growth for the quarter ended December (Q3FY20) was 4.5 per cent on a year-on-year (YoY) basis for companies that have declared their results so far, compared to an 8.4 per cent rise in the first half of the financial year. This indicates that there could be a further rise in days' sales of inventory.
BNP Paribas Securities sees the benchmark Sensex touching 22,000 mark in 2014, even as it cautioned over the earnings estimates in medium term.
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