Investors need to moderate their returns expectations as markets are factoring in some earnings recovery already, Anup Maheshwari tells ET Wealth.
How would you assess the current market situation?
At the moment, markets are rallying despite the negative news and the fact that earnings have not really come through. On the positive side, the top-down scenario looks promising. Eventually, interest rates will head lower, which is a good thing for any economy and equity market valuations.
The challenge has been more in earnings. Earnings are still struggling on the ground and we are yet to see the impact of measures like GST and demonetisation and a pick up in the system.
