ETMarkets Smart Talk: Bet on domestic facing sectors in Samvat 2079 to create wealth: Niraj Kumar

“While US Fed’s aggressive tightening in the near term may impart some depreciation pressures on INR, we reckon the worst in terms of pressure on macro fundamentals (external account and rupee) is behind us with the softening of crude oil prices. Besides, as stated above we believe that the worst of FII outflows is also likely over, as we are treading towards the fag end of rate hiking cycle given that growth concerns will start getting more pronounced and inflation will cool off.”