New Delhi, Dec. 12 -- Contrary to what people believe, there is a bull market going on amid a meaningful correction in the broader market, specifically in the mid and small-cap segments, said market veteran Madhusudan Kela on Friday, December 12.

Kela was speaking at the Mint Annual BFSI Conclave 2025. Commenting on the recent underperformance of the market, Kela underscored that markets over a period of time give average returns. If there have been exceptional periods of returns, the market will find a reason to take a breather.

But Kela emphasised that over a longer period of time, equities will continue to be one of the best asset classes to invest in India.

"As we have seen 14-15% compounding for the last 25 years, I don't see any ...