Dhananjay Sinha overweight on IT, pharmaceuticals space

Dhananjay Sinha of Emkay Global Financial Services told CNBC-TV18, "We are not saying sit on cash, so we have been defensive in our positioning and we continue to maintain that. We have been overweight on export sector, IT and pharmaceuticals which we will continue. We liked Wipro and Infosys, so we maintain that."

"In the pharmaceutical space, we had Sun Pharmaceutical as our top pick. We also like in the current context Aurobindo Pharma, Ipca Lab and Divis Laboratories, so I think these are the sectors that we like," he added.

"We have a selective buy with respect to the auto space where we like Hero Motocorp on the back of the fact that we anticipated that government will be spending and we see that impact on volume growth for two-wheelers especially Hero Motocorp and tractors, so we had identified Hero Motocorp with respect to autos, we are also overweight on Tata Motors; I think that has also done well. In the entertainment space, we liked Zee Entertainment and DB Corp."