Keeping the rally intact, Mark Mobius suggested a 15 percent correction

MUMBAI: With many institutional investors withdrawing money from India, Mark Mobius, a leading investor in emerging markets, has expressed confidence that the market in India will continue to rise. However, he predicted a healthy correction of 10 to 15 per cent in the current booming market.

This correction will be modest compared to the rise in Indian stock markets over the last year and a half. Given the high valuation in India, there are good opportunities in other markets. In an interview with a TV channel, he said that he sees the correction as a good buying opportunity. We don't see any reason to go into correction. He also expressed confidence that the market would continue to rise.

The last one month has seen tremendous volatility in Indian stock markets. The market fell seven percent from an all-time high in October. Panic has spread due to inflationary pressures and Corona variants.

Mobius is not particularly enthusiastic with the current boom in the primary market. Prices in public payments are already being raised. Numerous companies in the technology sector are working on expectations and assumptions rather than earnings.