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Midcaps to propel mkts set a new high: Sonthalia
Manish Sonthalia of Motilal Oswal Securities says if the market was to cross the previous high, then clearly the midcap segment is one segment where the participation has to come in.
Manish Sonthalia of Motilal Oswal Securities says if the market was to cross the previous high then clearly the midcap segment is one segment where the participation has to come in. "I believe that the midcaps will see much more buying than maybe the frontliners from the current levels," he adds.
Excerpts from CNBC-TV18's exclusive interview with Manish Sonthalia:
Q: What have you seen by way of trade today, has it been very sluggish?
A: I believe trade has been okay at our company and the jitters have been on account of the F&O rollovers, as we are heading towards F&O expiry on Thursday.
But by and large, things are okay and people are willing to buy at lower levels and that is the way it should be. We believe that the numbers for Q2 would be strong and the momentum would gradually pick up in the markets going forward.
Q: Where do you think the rally can pick after the intermittent F&O period is over? Where do you think the rally will find its leaders?
A: I clearly believe that the frontliners have actually moved closer to their fair values and that a lot of midcaps are still trading at deep valuations.
I think if the market is to cross the previous high then clearly the midcap segment is one segment where the participation has to come in. I believe that the midcaps will see much more buying than maybe the frontliners from the current levels.
Excerpts from CNBC-TV18's exclusive interview with Manish Sonthalia:
