As the market stares at issues of high valuation and lack of commensurate growth with fundamentals, Harsha Upadhyaya, CIO-Equity, Kotak Mutual Fund believes only a select few pockets are overbought. The market entirely is not expensive.
This, in the context of surged inflows of Rs 20,000 crore into equity mutual funds in August, is going to be a challenge for fund managers, Upadhyaya told CNBC-TV18 in an interview. However, one could look for stories in sectors with inexpensive valuations. Investors could well be cautious in such a scenario, he advised.
