Piyush Garg, ICICI Securities in an interview to CNBC-TV18 senses ominous indications coming from various markets across the globe. According to Garg, US 10 years and German 10 years bonds trading at multi-decade lows are pointing that both US and Europe are headed for a recession.
Given global market scenario, Garg said, whether or not Nifty will be able to hold on to 5,000 levels is also difficult to say. On the back of this, he advises investors to create some cash depending upon their risk appetite."In case the market cracks a lot from here, then one would have some cash to build portfolio, invest at lower levels and bring down average cost lower," he added. Banking, Capital goods, Pharma and FMCG are sectors where one could start nibbling in as the market cracks, Garg said. Below is the edited transcript of GargDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
