Expect market to provide bit of upward momentum: Prateek Agarwal, ASK Investment Managers

In a chat with ET Now, Prateek Agarwal, CIO, ASK Investment Managers shares his views on markets.

ET Now: It is a situation of glass half full, glass half empty. Are you a believer in glass half full or a believer of glass half empty?

Prateek Agarwal: At this point in time, I would still want to be more bullish than bearish. What has happened is that one part of the market where lot of news came in and good results happened, the index heavy part of the market, that has run up and pulled up indices. Maybe there the valuations are looking okay for the time being, maybe no further upsides may be there but the other half of the Nifty let us say which will still be looking at declaring results going forward, that is the part wherein any which way you have expected numbers to be good.

So as those numbers come in, one should expect that part of the market to provide some bit of upward momentum and then one should not forget that we have an RBI policy a week from now and hence interest rate sensitives which have been cooling off for sometime can again look up plus the fact that the result season is going off quite well and after the results season, one should expect the earnings going forward to be bumped up a bit. This would be a sharp contrast to previous quarters wherein earning expectations have bumped down rather than being bumped up.