Why Indian markets are under pressure despite strong mid-cap earnings: Nilesh Shah explains

Nilesh Shah, Managing Director of Kotak Mahindra AMC, expects several factors to determine the direction of Indian equities, including US interest rates, the dollar, oil prices and domestic earnings. He also sees potential support from the Eighth Pay Commission and consumption. Shah explains his preference for mid caps, while outlining concerns around valuations, policy and retail investor losses.