Broader markets could see more sell-off: Rahul Shah, MOFSL

Domestic equities were volatile on Tuesday tracking weakness in Asian markets and stretched valuations back home. The headline S&P BSE Sensex was down 120 points at 55,450 levels while the Nifty50 index lost 45 points but held 16,500 mark. Both the indices hit new all-time highs of 55,688.5 and 16,591 levels, respectively. Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on the way forward for the markets ahead.

“Large-caps are now leading the rally and broader markets are seeing profit booking and because the midcap sector looks over-heated, there could be more sell-off. Money moving to primary markets, disappointing earnings in broader space and over-valuations are all big worries for the markets currently”

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