Market likely to be rangebound until general elections, says Kotak MF’s Harsha Upadhyaya

The market is likely to be rangebound until general elections, said Harsha Upadhyaya, CIO-Equity at Kotak MF, adding that the auto sector will continue to underperform in the near-term.

"Volume growth for most segments of auto companies has been subdued," he said.

He said that the asset quality woes for corporate private banks were decreasing. “For years the corporate facing private sector banks and also PSU banks were facing a lot of headwinds in terms of asset quality trends. Now that seems to be stabilising. So we are bullish on corporate facing private sector banks," he said.