Bull markets don't leave much scope for arguments: Jagannadham Thunuguntla, SMC Global Securities

In a chat with ET Now, Jagannadham Thunuguntla, Head of Research, SMC Global Securities, talks about Asian Paints.

ET Now: Why is anybody buying into Asian Paints when it is one of the most expensive FMCG stocks in the world?

Jagannadham Thunuguntla: Yours is a very credible argument. But it's just that bull markets do not leave much scope for arguments. We are currently in a kind of market where fundamentals and valuations unfortunately don't count.

Anyway, traders and market participants just want to enter these stocks. Whether it is wise or not only time can tell. But there is so much of momentum in the market that there is hardly any place for arguments here.