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Market can't keep loitering where it is right now, says White Oak Capital CEO Somaiyaa

In this uncertain phase, markets are looking at a downside or possibly an upside as the status quo has persisted for a long time, says Somaiyaa

March 30, 2022 / 03:28 PM IST
Aashish Somaiyaa, White Oak Capital Management

Aashish Somaiyaa, White Oak Capital Management

Markets will see far worse outcomes if the Russia-Ukraine war continues for long but if there are some winds of change, there is a strong possibility of a sudden upside, White Oak Capital Management CEO Aashish Somaiyaa told CNBC-TV18 on March 30.

To a query on whether investors should wait it out on the sidelines and not immediately deploy more money or had the market moved on, Somaiyaa said that the market was interestingly poised.

“It's almost been like a status quo for the past few days and we have been moving in a very narrow range, we did see that 15,500-15,700 level for a brief time, but from there on it's just kind of holding stable and I don't think this can go on for too long,” he said.

There is either a downside or a significant upside from where the market is at the moment. “I don't think it can keep loitering" where it is right now, he added. Here are the highlights of his chat:

What to buy in such times?


Somaiyaa said things were “binary right now” and a little difficult to read. So, anybody looking to invest in this confusing environment should put half the money now and wait with the rest on the sidelines. It is not the kind of scenario where investors when can put in their money over three to six months.

What should one invest in?

That depends on the investor’s outlook. “If you think that you're positively biased, that is, if you think that things are going to get resolved, then you would look at sectors like financials but if you think that is not going to get resolved then you would look at the sectors which are benefiting from the impasse,” Somaiyaa added.

Will the flows into funds continue?

Mutual funds have seen a couple of good months where SIPs (systematic investment plans) are looking very strong but what does prolonged uncertainty mean?

According to Somaiyaa, fund flows tend to benefit from any kind of a decline and it is evident in the numbers.

“Fund flows have actually been stronger in January over December, February over January and in March also I don't see any real let up as far as flows are concerned,” he added.

“I think there is a long trend and a short trend. The long trend is like this 10 years back the industry was fetching two lakh SIPs a month but today we are fetching 2.5 million SIPs a month.”

Sentiment can turn sour or sweet, which can create some aberrations, but the long trend is unlikely to get disrupted, he said.

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Gaurav Sharma
first published: Mar 30, 2022 03:28 pm
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