Remain positive on IT services, healthcare: JP Morgan

Bharat Iyer, JP Morgan said, "Our preferred stance to participate in a potential economic recovery remains in high quality financials with a strong capital and liability franchise and manufacturing sectors with high operating and low financial leverage like commercial vehicles, cement and select capital goods.

"We would avoid the beta chase," he added.

Iyer said the brokerage is underweight on consumer discretionary, particularly with a rural bias. "We remain positive on IT services and healthcare," he added.