In an interview to CNBC-TV18, Dipan Mehta, Member BSE & NSE, spoke about his reading of the market and his outlook on a few stocks.
From an investor perspective, this is the good opportunity to get into stocks where this correction has resulted in creating a margin of safety. Liquidity remains very strong from the perspective of deploying in the secondary and primary market, he said.
The momentum and speed of the fall has caught many investors by surprise. This is just a technical correction. which is caused mainly by the speed with which the market is corrected, he added.
Retail lenders have led the bull market so far. The private sector banks and the retail focused non-banking financial companies (NBFCs) have been the best performers. If investors have missed out on entering into those counters, like Bajaj Finance, Yes Bank or IndusInd Bank or LIC Housing Finance, this is the good time to do some shuffling, said Mehta.
He also advised to get out of IT and pharma, which have been laggards and underperformers, and get into these NBFCs and retail lenders.
Goods and services tax (GST) is going to benefit the organised players even more. For example, appliance companies, building product companies, logistic companies benefit from it. Investors should focus on them, he further mentioned.
Deven Choksey, MD of KRChoksey Investment Managers also shared his views and readings on market.
For full interview, watch accompanying video...
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