Markets are volatile and as events happen it will react, says Nilesh Shah of Kotak Mahindra AMC

Global cues saw markets end Friday in the red; for the week, Dalal Street snapped its 3-week gaining streak with Nifty, Sensex and Nifty Bank posting their biggest falls in a month. To discuss the week gone by, CNBC-TV18 spoke to Nilesh Shah, Managing Director at Kotak Mahindra AMC.

On markets, Shah said, “We are in an uncertain environment, as events happen markets will react. If there is further escalation in Russia-Ukraine situation, oil prices go higher from current level. All central banks including Fed and ECB end up raising rates more than what is priced by the market — our markets will correct. This is a market where there will be higher volatility and events happening over next couple of weeks or months will continue to influence prices.”

He stated saying this is not the time to be overweight in equity as an asset class. “This is a market where you don’t go into expensive stocks where valuations are high or price to vision multiples are given. Try to focus on quality business available at reasonable valuations.”

Jai Bala, CMT at Cashthechaos.com, too shared his reading and outlook on specific stocks, sectors and markets.

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