Accumulate financial, auto, pharma, IT stocks: Phani Sekhar

P Phani Sekhar of Karvy Stock Broking told CNBC-TV18, "I will be series agnostic and I would like to accumulate in financial services, auto, IT and pharma, which is saying that 75 to 80 percent of the market is a buy. I don’t think this is a market to go into cash."

"Forget selling, if you are in cash this is a good time to start getting into equities. Well the golden rule is never put all your money in one go but it is a good time to start nibbling in. I don’t see this as a protracted correction. At best or at worst it might be a time wise protracted correction," he said.