The outlook has turned distinctly negative and sentiments seem to have taken a huge dip. In the last survey no fund manager expected Sensex to go below 4000. No one favorite sector. Fund managers have once again voted for a diversified portfolio basket, which they expect would be the best performing sectors. FMCG tops the hate list.
Autos remain on the no-no list of fund managers.
Funds flow turns negative. The pessimism is more pronounced among the domestic mutual fund managers. Earnings growth expectation also dips. This is the first time that fund managers have given their earnings expectations for FY02 and we will need to monitor how their view change as we move forward. However, it must be mentioned that for FY01 the expectations were much more optimistic.