Investors burnt their fingers in small- and mid-caps, says Motilal Oswal

Motilal Oswal expects the slowdown in the economy to last at least two more quarters

Developments back home and at the global level have kept the markets volatile over the past few sessions. MOTILAL OSWAL, managing director, Motilal Oswal Financial Services, tells Puneet Wadhwa that he expects the slowdown in the economy to last at least two more quarters. The fast-moving consumer goods (FMCG) sector will lead the recovery, he says. Edited excerpts:

What is your market outlook?

The equity markets, post Budget 2019, have taken a negative view on some of the measures that were rolled out. That said, the markets will slowly look up from here. Interest rates are already low and by end 2019,