With corporate earnings witnessing traction, the current market valuation multiples should broadly sustain, Jayant Manglik, President, Religare Broking told Moneycontrol’s Sunil Shankar Matkar in an interview. He also said that good monsoon will be one of the factors that will support growth and that new highs could be made in the second half of 2018.We believe that the upward movement of crude oil prices could increasingly face challenges on the back of continued rise in US oil production and the recent measures by Saudi Arabia and Russia to counter potential shortfalls in oil supply. This will put a reign on the depreciating rupee also. Further, with corporate earnings witnessing traction, as evident from the March quarter earnings season, the current market valuation multiples should broadly sustain. Also, we believe a good monsoon will be one of the factors that will support growth. In wake of these factors, we do believe that new highs could be made in the second half of 2018.
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