Sandeep Tandon, Founder and CIO of Quant Mutual Fund, which manages assets worth around $10.95 billion, said the current market rally is supported by a favourable setup despite earlier concerns around the rupee and commodities. “You have to look at the background where this rally is coming from,” he said. “People were nervous about rupee depreciation and the sharp rally in metals and commodities. That’s the backdrop.”

Tandon said Quant Mutual Fund remains fully invested, except in small caps. “When conviction is missing but data points are bullish, that’s the time to get all in and participate in the rally,” he said. While short-term profit booking may occur, he believes the uptrend could continue.

He listed three reasons for a positive outlook on Indian equities - a stabilising rupee, f

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