Don’t rule out deeper correction in markets, switch to large-caps: Vinit Bolinjkar

After a firm opening on Wednesday, domestic equity markets slipped into the red. S&P BSE Sensex was below 54,400 mark, down 0.35%, while the NSE Nifty gave up 16,250-mark and lost 0.37%. Bank Nifty moved below 35,800 mark, falling more than 0.70%. Vinit Bolinjkar, Head of Research at Ventura Securities spoke to Money9 about market fall and how it can lead to a bigger correction. "IPO rush pulling funds, correction after sharp run up in broader markets and in the narrow indices has been due. Of course the cuts are sharp and sudden and has followed the euphoria in markets", he said He is also advising clients and investors to now switch to the large-caps. Consumption story is something he is bullish on for the next leg of markets. However overall, he does not rule out a further correction.

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