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Samir Arora, CIO, Alliance Capital on attack on America

Samir Arora, Chief Investment Officer, Alliance Capital - We do not change our outlook

I believe that even though the tragedy is really bad, the response of the markets has been too severe. I believe that net decline of may be 5-8% was justified in the world, but anything more than would be considered as too much.

In India we have seen tragedies like Gujarat Earthquake, Cyclones. which have very large loss of human life. If India can come through every time, why do we not believe that US can also handle its crisis. The whole US machinery will be after this including US Fed and we have to believe at this stage that the economic impact - on the US consumer confidence - may be negative but may be neutralized by a much looser monetary policy.

We do not change our outlook and still prefer Indian technology but today buying ITC.