Market breadth has been really weak: Avendus Capital's Andrew Holland

A small number of stocks have led the indices higher rather than a broad-based rally, Holland said

It is time to be cautious as markets are ignoring risks on the horizon, says Andrew Holland, chief executive officer (CEO), Avendus CapitalAlternate Strategies. In an interview to Samie Modak, on the occasion of the launch of India’s first ESG (environment, social and governance)-based fund, Holland explains his investment strategy. Edited excerpts:

Q: Benchmark indices are at an all-time high. Where do you think the markets are headed from here?
 

A: For the near-term we are cautious. There are lots of moving parts that can impact sentiment negatively. The market seems to be ignoring some of them. There is a trade