Positive on market over 18-36 months; buy on dips: Bharat Iyer of JPMorgan

Bharat Iyer, Head-India Equity Research, JPMorgan thinks market is going through consolidation because valuations are demanding, market is going through an earnings downgrade cycle and the macro-economic indicators have peaked out, so there could be an element of mean reversal. The correction was not unexpected, he says.

However, the medium-term outlook continues to look good, says Iyer in an interview to CNBC-TV18 from the sidelines of JPMorgan India Investor Summit 2017.

Iyer says they have been advising their investors to buy on dips because from an 18-36 months perspective they are still positive on the market. However, investors should wait for a little more and look for a better entry opportunity, he adds.

He also prefers the largecap space over the midcaps.

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