Assembly election result: FII dollars may power megacap stocks beat madcap rally
FIIs who had been bothered by the Indian markets rich valuations and were hoping for a correction to build more substantial positions in the market may see those hopes evaporating, leaving them with the unsavory choice of either staying out of a market that may not correct or may continue to do well or entering the market at current levels despite their reservations about the markets valuations in general, Kotak Equities said.