Bank Julius Baer & Co is looking for 18 percent earnings per share (EPS) growth in the next fiscal in India from the financial and IT sector, Mark Matthews, told CNBC-TV18.

Talking about emerging markets, he said that emerging markets (EMs) bear the brunt of selling in developed markets.

He said, “To my mind, the only major economy, the major market that will have earnings growth this year in excess of 15 percent, and maybe places like Brazil will too, but we are looking at 18 percent of EPS growth in the next fiscal year and most of that coming from financials, industrials and IT.”

Also Read: Crude crisis to hit Indian economy lesser; commodity prices may soften a bit: Bank Julius Baer

On US Fed rate, Matthews said, “I do not think they are going to do anything more than token 25 bps rate hike and don’t think beyond that the pace of tightening will be nearly as steep as the Futures market is currently predicting.”

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