SBI Mutual Fund, India’s largest mutual fund asset manager, has waved the red flag on the country’s stock market.
The asset manager, which manages assets worth more than Rs 5 lakh crore, is concerned over the prospects of returns from the Indian equities going ahead, because of the euphoria on display in the primary market and among retail investors.
“Primary market activity is flashing warning signs. Such level of activity is normally associated with euphoria (in the market),” Dinesh Balachandran, fund manager at SBI Mutual Fund said at the launch of the SBI Balanced Advantage Fund yesterday(11th August 2021).
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