As concerns around crude oil prices begin to ease and foreign investor selling shows signs of moderation, market participants are reassessing portfolio allocations. According to Pankaj Pandey from Head Research, ICICIdirect.com the easing of two major overhangs facing India—the pressure from foreign portfolio investor (FPI) outflows and elevated crude oil prices—has significantly improved the investment outlook for several sectors.
Speaking to ET Now, Pandey said India had been grappling with two major challenges. "Overall, our sense is that India was facing two major problems. One, the FPI selling which has been largely linked to the technology-led names. The other was the macroeconomic problem especially coming from crude oil prices."
