The Sensex closed 237.98 points down or 0.84 percent at 28182.14, and the Nifty ended 74.00 points lower or 0.86 percent at 8529.45 in trade on Tuesday. But the most interesting point about today's trade remains the intraday rise in Infosys (11.05 percent) and the fall in Sun Pharma (-14.95 percent), respectively.
Despite the fall in Sun Pharma on the back of Monday's profit warnings, Parag Thakkar of HDFC Securities and Devang Mehta of Anand Rathi Financial Services advise investors to buy the stock and understand that the integration with Ranbaxy will take its own time. From a 18-24 months perspective, it is a great buy, says Mehta.
Thakkar says Infosys too was a great buy a few days ago, while adding that it is no time to sell the stock.
Both Mehta and Thakkar also like Asian Paints. While the stock fell 4.14 percent in trade today, HDFC Securities believes it to be a great company.
"Asian Paints is also a direct beneficiary of the crude price fall and with expected pickup in monsoon and hence government spending, it would be a great buy once it corrects 7-8 points from today's close," Thakkar told CNBC-TV18.
Meanwhile, Mehta says valuation-wise Asian Paints is at unsustainable levels. The company had rallied before earnings and it was a consensus trade. But the management's pessimism on the demand scenario played spoilsport today.
On the broader market, Mehta says he does not want to generalise midcaps as a whole. He has a bottoms up approach in the market.
Kunal Bothra of LKP Securities too gave his views on a few select stocks. Watch video for more...
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