The markets in the last month have been on a bull run and analysts are cautious about the near-term market outlook for Dalal Street, as a correction may be around the corner.

Srinivas Rao Ravuri, CIO of Equities at PGIM India Mutual Fund said the markets have seen a one-way rally in the last 3-4 months, we have been cautious and we remain cautious on the outlook for equity markets.

He said, "The kind of response we are seeing to the IPOs and the kind of subscriptions that we have seen, clearly says that things are not okay in the equity markets right now."

He said PGIM India Mutual Fund remains overweight on pharma, IT and chemicals and underweight on financials.

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(Edited by : Abhishek Jha)

First Published:Dec 21, 2020 5:47 PM IST