In an interview with ET Now, Sanjay Dutt, Director, Quantum Securities Pvt Ltd, gives his views on the markets and the political drama which is currently panning out. Excerpts:
ET Now: How do you manage portfolio risks right now? Are you pairing down positions as well -- trading or short-term investment positions -- in view of the fact that there is a big weekend event and of course the RBI policy meet on the 18th?
Sanjay Dutt: Before I start giving my views on where things stand at this point of time, let me just clarify that in my last two-three public interactions, I have been got on the wrong foot. I didn't expect the markets to behave so negatively and erratically as they have in the last two-three months and both the issues related to the risk off trade and the issues related to the domestic policy inaction have played out totally against my own expectations.
Of course, leaving that statutory claimer of risk to investors who are listening to me, what I feel right now is that things are stabilising contrary to what one reads and what one perceives across the global spectrum of media releases and the media coverage. There is too much noise that one needs to filter right now because everyone has a view on the European issue as to what Greece is going to do, as to what Germany is going to do, but ultimately what matters is what equity prices are going to do based on fundamentals.....Readmore