‘Risk-reward is unfavourable for equities in the near term’

Recent geopolitical events have kept a check on the runaway market rally seen thus far in calendar year 2017 (CY17). ABHAY LAIJAWALA, managing director and head of research, Deutsche Equities India, tells PuneetWadhwa that his December 2017 target for the S&P BSE Sensex is 29,000. Purely from a returns perspective, he expects mid-caps to fare better than large-caps. Edited excerpts: