Investment Advisor, PN Vijay is of the view that technology is becoming almost pretty safe sector to be in.
Vijay told CNBC-TV18, "The US is slackening a bit and so the capital spending, but if one see the type of slackening that is happening in the US, it is a consumer spending, its housing starts, its retail footfalls etc, the capital spending in America is very robust. So I don't think that the orders or the IT activity from the US will fall off so quickly, the rupee is strengthening but that would probably affect the third quarter not this quarter."
He further added, "On the whole, IT is pretty okay and lets not forget that IT used to have this big premium over the whole market that has gone now, most of the sectors in IT are trading on par in PE. So IT is becoming almost pretty safe sector to be in."
Disclosure: We do have position in Tata Steel, Sterlite and the Hindustan Zinc. We also have positions in Mahindra Gesco, Unitech, Pantaloon.
