Expect some consolidation in Indian market; continue to like auto sector, says Andrew Holland

Andrew Holland, CEO, Avendus Capital Alternate Strategies, doesn’t see any catalysts for the Indian markets to move higher.

“The markets, even with the correction we have had, is still a little bit high. Therefore depending on what the budget brings us, I don’t see what the catalysts are for the markets to move higher in the very short term. I am not saying they are going to go down, they might trade around these levels but I don’t see what the catalyst is at the moment unless there is something in the budget which was surprisingly good but I am not expecting that at the moment,” he said in an interview with CNBC-TV18.

On auto sector, he said, “We like it longer term but in the short term as well we had a good price rise about a month ago, so it has been a good time to enter again on the back of some of these good results that we see and the expectation that the expenditure towards cars and two-wheelers would continue. I don’t think that is going away from us in the medium term. So it is a good place to be in terms of longer term.”