UBS Securities see a better opportunity to buy largecap or midcap stocks later in the year, said Gautam Chhaochharia, MD & Head-India Research of the company.

"The broader call on the market is not constructive, the house is cautious, so from risk-reward perspective to buy the largecaps or small midcaps is not now," he said.

Speaking on the sidelines of the compnay's Midcap conference Chhaochharia, said that he asked to investors to stay underweight on midcaps this year as an asset class, but there is still alpha opportunity in that space.

The interest level from both foreign and domestic is there and they still continue to look for bottom-up opportunities, he said, adding that the attendance at the conference is good.

According to him, retail is a multi-year secular opportunity.

First Published:Jun 6, 2018 12:05 PM IST