It is wait and watch for investors: Phani Sekhar on Greece referendum

In a chat with ET Now, P Phani Sekhar, Fund Manager – PMS, Karvy Stock Broking, talks about how markets may behave in the days to come.

ET Now: As a market watcher, as an India-watcher, somebody who looks at stocks more specifically, how much does the Greece news change the story because the Nifty has held on to 8,300?

P Phani Sekhar: I do not know, how it changes the story because I guess since July 5 is the date of referendum, we will have to wait at least until that date. That said, we have seen some brilliant moves especially on the EUs strategy of going back to the Greek people with their part of the story.

Even if Greece were to reconsider, does it actually negate the prospects of referendum is something that we do not know. So, the next logical milestone from here on will be the referendum and outcome of that.