Jigar Mistry News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Jigar Mistry of Buoyant Capital highlights how flows outweigh fundamentals in the market. Caution needed due to smallcap rally driven by new money from retail and mutual funds. PSU side is questionable. We need to take a step back, look at the businesses which are underlying and not just go for PSU as a theme Consumption sector underperforming. Uncertain market outlook with possible correction.

“If we take 25% of a drawdown as a particular pullback or start of a new cycle, then arguably we are in the second best smallcap rally since the start of equities investing in India. So, our sense is that a large part of play out has happened. One needs to keep an eye out.”

“FIIs are reducing their exposure to India, they will sell only what they own but then a time will come when the share prices will catch up with fundamentals and in comparison to other runups in the small and midcap space, financials still make reasonable sense. We are increasing exposure in the entire BFSI space.”

“Just because 10 years outlook is so good, if the market tries to reprice all of it in one go, it will be a little bit concerning. It is not that we are sitting on huge amounts of cash in old portfolios . We are taking time to be fully deployed in new portfolios but in old portfolios, around 10% cash is not excessive at this juncture.”

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