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In a report titled 'Despair, euphoria and hope in the same market', Kotak said the continued stalemate in the West Asia conflict and the steady decline in stock prices have resulted in "despair" among investors in large caps. At the same time, positive developments in certain small- and mid-cap-centric sectors have fuelled "euphoria" among retail investors. Kotak said it hoped for a quick resolution to the West Asia conflict, which could turn the current despair around large caps into hope. Otherwise, the current euphoria around SMIDs could also give way to despair. Read more: Nifty valuations near post-Covid lows. Alchemy Capital’s Alok Agarwal explains what investors should buy now The brokerage said it was "quite puzzled" by the apathy towards large-cap stocks, pointing out that most large caps offer decent value after the sharp correction in their stock prices over the past few weeks or the prolonged "time" correction over the past few years. Kotak attributed the apathy among FPIs to broader concerns around India, including risks to the country's macroeconomic environment from high oil prices and the lower attractiveness of India compared with other markets. Read more: Market crash wipes out Rs 26 lakh cr in 8 weeks! Why soaring bond yields may hurt Sensex, Nifty more than elevated oil prices Among domestic retail investors, Kotak said the preference for small and mid-cap stocks is due to their focus on quick returns, with past returns acting as an important reference point for investment decisions. The brokerage said it was not surprised by the excitement around these stocks among retail investors, given positive developments in sectors dominated by these companies, including capital goods, contract development and manufacturing organisations (CDMO) and defence. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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