Why is Mirae Asset more bullish on largecaps over small and midcaps for next 2-3 years? Gaurav Kochar explains

Gaurav Kochar, Fund Manager at Mirae Asset, notes that current market valuations for large-caps and mid-caps are higher than historical averages but are supported by strong earnings growth forecasts. He expressed a positive outlook on financials, consumer discretionary, building materials, and pharma, while being cautious on auto, industrials, and IT sectors.