Merrill Lynch underweight on India
Going nowhere has taken on a completely new meaning for the Indian markets. Consider this, in the last six months, the Sensex rose over 3 per cent nine times and fell more than 3 per cent on 11 sessions. The net change is just 6 per cent higher and if Mark Mathews, Chief Asia Strategist at Merrill Lynch, is to be believed, the equity markets in India would remain on this sluggish slow road for some more time.
