The ET report points out that the top global brokerage firms are of the view that the recent correction in Indian markets owing to both global as well as domestic factors should be used to accumulate quality stocks.
Macquarie is reported to have stated that the impasse in Greece is a good opportunity to buy into the market as it consolidates before the next leg up. It is also stated that Government spending on infrastructure is finally starting to make some impact and whispers are back about a possible interest rate cut in August.
Barclays has stated that the recovery in the investment cycle and overall growth will remain gradual. Nevertheless, ongoing reforms in key areas such as natural resource allocation, fiscal subsidy, financial inclusion, tax administration, land and labour laws, and ease of doing business corroborate its long-term constructive outlook.