Amit Khurana positive on private sector banks

Amit Khurana, Co-Head Equities & Head of Research at Dolat Capital Market told CNBC-TV18, "We have been positive on private sector banks and we continue to be positive even though the valuations have rallied over the last few weeks. We still believe that the private sector banks will continue to outperform the public sector undertaking (PSU) space while there have been some views that the PSU banks on risk adjusted basis seems to be reflecting better returns. But we believe unless the credit cycle starts showing up signs of uptick, a very significant overweight position is something that we would avoid on PSU banks."

"We believe that there is still some more news flow to digest especially the Q3 and Q4 earnings and therefore we would wait and watch. We are still positive in general about auto space in particular where we believe the overall trajectory seems to be on a positive note, so we believe they can still outperform over the next 12 months," he said.

"We are more neutral on consumer space but little more neutral to positive on discretionary space in particular. We are more neutral on IT where we are more stock specific and we are more positive on the infra space versus the capital goods space. That is how we are positioning. We are more category or sub sector driven than the macro sector driven approach."