Fears of a second wave of COVID-19 cases have spooked global equities. Mark Mobius, founding partner of Mobius Capital Partners shares his views and outlook on the current market conditions in a conversation with CNBC-TV18.

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First up, he discusses the bull run on the market. “We are definitely in the new bull market and I mentioned a few weeks ago, whenever you have a recovery from the terrible bear market that we have had, the market has to climb the wall of worry. People doubt whether there will be a second wave

Speaking about Indian markets, he said, “I think India will be similar to most part of the world where people get back to work, people get back shopping etc and you see economic recovery. The numbers for companies will look very bad this year, there is no question that many companies will go bankrupt, many companies will have incredible losses but it is next year that we have to look at - next year you will see the recovery. Of course the recovery will begin this year but it will show up in the numbers of companies in next year and that is why you are seeing the market is predicting a v-shaped recovery.”

When asked about his pecking order within the emerging market basket, he said, “India is very important to us. In our portfolios China and India are right at the top in terms of weightings in our portfolio. So there is no question that we will continue to look for opportunities in India, we will continue to hold the stocks that we have and as more money comes in, we will increase our weighting in India. So from a long-term perspective, we are very excited about India, we think there will be recovery and the recovery will be stronger.”

“India is up from the bottom for about 22 percent, it is interesting that emerging markets have performed better despite all the bad news against the US market,” Mobius added.

Watch the video for more.