Investors moving away from second tier midcaps and smallcaps: Pashupati Advani

In an interview with ET Now, Pashupati Advani, Nirmal Bang Institutional Equities, shares his views on the metal space. Excerpts:

ET Now: Should one stay away from the metals for now?

Pashupati Advani: People are coming in again. It is a question of the defensive versus the aggressive and the high beta. Hence, people are going into what they think are good stocks like L&Ts, SBIs and ICICIs.

People are not coming to the second tier names. A lot of the second tier midcaps and small caps have not moved at all.