What was that again?

Things are looking challenging both globally and locally, but it is risky to be bearish on the market at these levels. While the index is down about 25% from its peak (in 2008) there are many frontline stocks which are quoting at five-year lows. There is so much pessimism about the (domestic) policy and macro environment that the slightest of positive development could spark a big rally-

says Lakshmikanth Reddy, Executive VP and Head-Equity, ICICI Prudential Life Insurance