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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: