Depreciation of rupee probably started panic across asset classes: Sudhir Agrawal, UTI Mutual Fund

In an interview with ET Now, Sudhir Agrawal, UTI Mutual Fund, shares his views on the market. Excerpts:

ET Now: The currency has stabilised, it seems like there is some calm in the bond markets as well. Do you see the strength sustaining or do you think the calm would return into equities pretty soon?

Sudhir Agrawal: See, I agree. On Monday, we have seen the rupee depreciating in a big way, so that was the time probably that panic spread across the asset classes including equity. Even the bond markets suffered that day, and we have seen the prices falling by as much as... the yield moving up by almost 10 bps.