Nifty consolidates, Midcap continues to underperform; Brent crude at $77.50/bbl

he S&P BSE Sensex might be down by about 3 percent from its all-time high while for the Nifty it is nearly 5 percent from its lifetime high of 11,171 which does not mean that we are in a bear market but a more matured phase of a bull market, Bharat Iyer, MD, JP Morgan highlighted in an interview with JPMorgan.“When we started the year with expectations of low returns and high volatility. The Nifty5o in a way has risen from 10,000 in the beginning of the year to 10,600 now, a return of 6-7 percent. The will hit 11,300 through course of the year amid volatility,” said Iyer. The volatility is likely to continue and midcaps are vulnerable at current levels which are likely to stay in that state for some more time thanks to excess valuations, rising cost of capital and global tensions.

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