We've increased cash in portfolio to guard against event risks: J Jaipuria

Though increased restrictions in Europe and the pending outcome of the US presidential election will keep the markets choppy, JYOTIVARDHAN JAIPURIA, founder of Valentis Advisors, tells Puneet Wadhwa the markets will see positive returns in the second half of the financial year and the year after. Edited excerpts:

Will market leadership change from stocks, such as Reliance Industries, pharma, and IT, to cyclicals in the second half of FY21?

Two events could dampen the near-term sentiment. First, the uncertainty surrounding the US presidential election. Second, another wave of coronavirus in Europe, where daily cases now exceed the peak seen in the first