Govt's action in monoon session crucial for markets: Manish Sonthalia, Senior VP, Motilal Oswal Securities

Manish Sonthalia, Senior Vice President-Fund Manager, Motilal Oswal Securities in an interview with ET Now talks about market sentiments.

ET Now: Is the market hopeful of any sort of reforms that may actually come about?

Manish Sonthalia: Market has been actually hoping for a lot of reforms to come through and clearly when the monsoon session is in parliament lot is expected, something on the FDI, on in retail, something on insurance, key issues on the oil front, the fertilizer, the food front etc. So I think the government stands on the fiscal deficit because now we believe that these numbers will again have to be revised. So lot of actually information coming out from the government would be required if the markets were to be headed higher and that would all depend on what the government does in the monsoon session.