To Rahul Chadha of Mirae Asset Management it seems unlikely that the market will go up from current levels. Nor will it witness a major correction, according to him.
He, however, doesn't rule out the possibility of a sharp bounce back in sectors which have fallen sharply. Thus, at times like these, he suggests investors to look at valuations individually for sectors, where he finds consumer space to be expensive. Being positive on the banking space from a long-term perspective, he told CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee in an exclusive interview that banks have corrected on risks of exposure to infrastructure. He is also overweight on two-wheelers and media, and is looking at pharma companies with reasonable valuations. Also Read: Commodities to spiral if QE3 rolls out says Motilal Oswal AMC Below is the edited transcript of Chadha's interview with CNBC-TV18. Also watch the accompanying video. Q: There has been a lot of talk about pulling down the earnings multiple for the market because of the disappointment that one will likely see on earningsDiscover 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!
