Downside protection is priority in this environment, says Mahesh Patil

The markets are in a downward spiral since the presentation of the Budget in July, with foreign portfolio investors (FPIs) on a selling spree. Mahesh Patil tells Puneet Wadhwa

The markets are in a downward spiral since the presentation of the Budget in July, with foreign portfolio investors (FPIs) on a selling spree. Mahesh Patil, chief investment officer for equities at Aditya Birla Sun Life AMC, tells Puneet Wadhwa that investors are looking for some clarity on whether the market has bottomed out or there is still a risk of a significant downside. Edited excerpts:

1. Do you think selling in the markets since the Budget has been overdone?

The market sentiment has soured after the Budget. There are concerns about a gradual slowdown in consumption. The slowdown is likely to