Raj Bhatt, Vice Chairman and CEO of Elara Capital, spoke about his reading of the market and his outlook.

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“Longer-term earnings will drive the market. In the short-term, we have the volatility coming from the western markets which filters down to India,” he said.

“Market has not priced in any change in government right now but there is a bit of uncertainty whether current government is going to get majority or is it going to form a minority government or they would lose the elections. Unless we get clarity on that, market is going to move sideways,” he added.

"Even if we have deficit on current account, on capital account we will keep money flowing into India," he said to CNBC-TV18.

Bhatt also said that political uncertainty is becoming important and change in present government means change in policies.

First Published:Apr 17, 2018 2:38 PM IST