Markets down on imminent earning season and global factors: Taher Badshah, Motilal Oswal

In a chat with ET NOw, Taher Badshah, Senior Vice President & Co-Head Equities, Motilal Oswal AMC, shares his views on markets. Excerpts:

ET Now: What is causing panic in the market?

Taher Badshah: Panic is broadly led by global factors. Especially Europe more than the US and some of the jitters that we have seen around the markets in the US as well.

Secondly, there have been some local factors as well. Near term flows are getting a little affected as a result of the appreciation of the dollar versus most of the emerging market currencies. That is something which has affected shorter inflows and therefore, the shorter end of the market as well.

We are probably going to be hitting into the elections season as well and that is something which is in the minds of the market. Also, we are confronted with a month which is full of holidays. This is technically affecting the market too.

So, it is not one particular factor but a host of them. We are now going to be into the thick of the results season very soon and from the point of view of the market, given that we have seen a good rally both in the large caps and the midcap space, market would want to assess things in the light of the reported numbers and then take things forward from thereon.