The Japanese yen and the Euro have become much overbought. A big move has been with the Chinese currency strengthening and I think that one is where the macro investors will be looking at because it largely removes any of the deflation fears that people might have expected given the impact of COVID-19.

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- Sean Darby of Jefferies

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The exports markets of the US, Europe and Australia, KTM is experiencing between 30 - 100 percent growth year-on-year. This makes us believe that there must be a fundamental shift in demand. However, in India, except the pent up demand between March and June, the fundamental demand is still down as people are out of jobs, people are getting lower salaries and these are uncertain times so people are tentative.

The second thing is if somebody moves from public transport to owning a two-wheeler then he faces two real issues. He will have to spend a few thousand rupees extra every month for EMI, fuel, maintenance, parking, etc. These are not small pains. When I put these two things together, I don’t see any obvious evidence of a shift to COVID-linked personal mobility.

- Rajiv Bajaj, MD, Bajaj Auto

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In the midcap space, speciality chemicals sector has done well and continues to remain strong post-COVID. We are overweight on the sector. The second sector which I think was a beneficiary of COVID essentially is Pharma, again a sector which we are extremely overweight. Banking definitely is a casualty. A surprise for everybody has been the way the banks have performed and I think that is something that we would be moving towards underweight.

- Atul Suri, CEO, Marathon Trends-PMS

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The one theme that we have been extremely bullish on has been financial services. It is a bit of a contrarian theme given that it is likely to get affected significantly if the economy were to be in the doldrums. However, lots of high-frequency indicators are suggesting that the economy is inching back to normalcy. So as and when the crisis ends, the economy and in particular certain sectors like financial services sectors will consolidate significantly.

- Pramod Gubbi Co-Founder of Marcellus Investment Managers

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