Markets thrive on hopes of end of rate hike cycle; overall valuations reasonable: Harshad Patwardhan of Union AMC
Patwardhan underscored that market valuations are reasonable, but there are pockets of overvaluation in select segments that could be vulnerable to changes in sentiment. Mid and small caps are outperforming large caps due to increased domestic flows and their underperformance in the previous phase.
Harshad Patwardhan, CIO at Union Asset Management Company (AMC) Private Limited, believes that the overall market valuations are reasonable. However, there are pockets of overvaluation in select segments and they can be vulnerable to any sudden change of sentiment. In an interview with Mint, he shared his views on the markets, economy and interest rate trajectory, among others.
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