Manager spots buy opportunity in India

Indian firefighters investigate the scene of a fire at an apartment building in Mumbai.- AFP

Mumbai: Unfazed by a stock market sell-off that wiped US$34bil from India’s benchmark equity index and unabating jitters in the nation’s credit market, Aberdeen Standard Investments Ltd is looking to adding to its India equity holdings.

Short-term volatility is “an opportunity to build positions in quality companies whose share prices have been indiscriminately dragged down,” said Kristy Fong, Asian equity investment director at the asset manager.