Macro headwinds and upcoming state elections are likely to weigh in and both could keep the market volatile for the next three to four months, said Shibani Sircar Kurian, VP and head-equity research, Kotak AMC.

"Both domestic as well global macro headwinds are weighing in the markets and this kind of volatility could, therefore, continue for some time, Kurian said.

State elections followed by the 2019 general election are likely to weigh in the market and volatility would possibly continue, she added.

Kurien said the currency markets have been volatile and the pressure on the currency could continue for some time.

on non-banking finance companies (NBFC), she said housing finance companies have been one pocket they have been cautious as bond yields inching up, there has been pressure in terms of cost of funds.

First Published:Sept 17, 2018 5:55 PM IST