There aren't any immediate triggers to reverse mkt trend: Prakash Kacholia

We see the merger of public sector banks as a step in the right direction, says Prakash Kacholia

After a sharp slide since the Budget in July, the markets are in consolidation mode. Prakash Kacholia, managing director at Emkay Global Financial Services, tells Puneet Wadhwa that India’s underperformance versus the emerging markets (EMs) in the last three months could be peaking. Edited excerpts:

Is the sell-off since July overdone?

While there has been a sell-off in the emerging markets (EMs) in the last couple of months, India has underperformed peers by 4–5 per cent. The fall in the market after the Budget is probably explained by the lack of any big-bang announcement. Fresh slippage risks for banks from corporate accounts,