Here is the transcript of Rakeshji’s interview on ET NOW of the day before yesterday for those of us who didn’t manage to catch it alive:
ET Now: What is your take on the current situation of the market?
Rakesh Jhunjhunwala: I am not surprised as December 20 of 2011 is still the 52-week low. There is hope in the market that the government will finally act.Interest rates worldwide are at extremely low levels. So money being cheap, there is some kind of confidence in Europe that at least no country is going to leave the Eurozone for the next six months.
We do not know beyond that. China is expected to grow better and the American economy is also showing some signs of recovery and here the markets are anticipating that now the interest rate cycle has turned. We are going to have lots of interest rate cuts next year. Despite all the pessimism, the market is performing extremely well with very good breadth and all technical indicators are extremely positive. It has always surprised me as it has risen in the last two, three months and it just refuses to correct. Read more of this post