Remain invested in consumer staples, advises Rajan Malik

Rajan Malik, Head Equities of PCG Phillip Capital India told CNBC-TV18, "Most of the stocks that you want to own are already price to perfection. But then you got to understand that this is an election year and social sector spending to be very high. That is likely to percolate into higher demand for the consumer sector. So that’s a space that you could still continue to be invested in but valuations certainly do not justify investing in these stocks from an investment perspective. But from a defensive perspective, that’s a space you still need to be in."