Markets not discounting 'no' to Greek referendum: Prashasta Seth, IIFL AMC

In an interview with ET Now, Prashasta Seth, CEO, IIFL AMC, shares his views on markets. Excerpts:

ET Now: How do you view the Indian markets from hereon given attempt is being made to resolve the Greece issue and a deal is likely to get inked soon enough?

Prashasta Seth: Two things are to be noted which have favoured Indian markets. One is that monsoons have turned out to be a lot better than what people were earlier anticipating. So, that has supported the Indian markets. Second, the recent fall in Chinese market has allayed some of the concerns of FII money going out of India to China. So, these are the two main factors because of which Indian markets have been relatively resilient in the current upmove.

In terms of Greece, there is still a situation that Greek people may say no to the referendum but this is definitely not discounted in the current prices. What market is starting to discount is a fact that Greece over a period of next week or so will say yes to the referendum and things would turn out to be much better than what it was looking few days back when it looked like that Greece will just move out of the Eurozone.