India's markets could 'easily see' a 10% return in the next six months, and this could present a buying opportunity for investors, according to Suresh Tantia of Credit Suisse.
"It might take a bit of time for Indian equity market to rebound strongly, but I think if somebody has a six month plus horizon, they could easily see 10% return from here," said Credit Suisse's Suresh Tantia.There's also no external risks affecting India currently, with low oil prices and "no political risk," Tantia said.
A security guard walks past the National Stock Exchange of India building in Mumbai, India, on Friday, Dec. 16, 2016.markets could "easily" see a 10% return in the next six months, and that's a buying opportunity for investors, according to a strategist from Credit Suisse.has declined around 8.71% while the S&P BSE Sensex index has slipped about 7.44% as of Wednesday's close, from their highs in June.
"It might take a bit of time for Indian equity market to rebound strongly, but I think if somebody has a six month plus horizon, they could easily see 10% return from here," Suresh Tantia, senior investment strategist at Credit Suisse's Asia Pacific CIO Office, told CNBC's "Capital Connection" on Tuesday.
"Every time market has corrected by 10%, it's always been a good buying opportunity unless there is an external risk," Tantia said.Tantia pointed to the low price of oil currently, with international benchmarksitting at the low 60 dollars per barrel level. India, a major crude importer, is especially vulnerable to any increases in oil prices, being heavily reliant on the commodity. More expensive oil would lead to a widening current account deficit for the country.
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