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US market correction looming: ICICI Prudential’s S Naren flags biggest risk for India
ICICI Prudential CIO warns that a U.
Sankaran Naren, Executive Director & Chief Investment Officer at ICICI Prudential AMC, said the greatest threat to global equities - including India’s markets - is a sharp pull‑back in the U.S. market, particularly driven by overvaluation in tech/AI stocks.
Speaking at a summit in Mumbai, he cautioned that since the U.S. constitutes around 60% of the global equity index, a 20% drop there could drag India down even if domestic fundamentals remain intact.
He added that while India might fare better relatively, outright gains are uncertain in a global correction scenario.