Deven Choksey, MD of KR Choksey Shares and Securities told CNBC-TV18, "This trend is unlikely to reverse in a hurry because the market direction is not moving up as far as the market is concerned and the upside in the market is limited at this point of time. So, the risk averse money would go into these IT and pharma sectors. Given the fact that these two sectors are attracting more money, you could see within the IT pack the companies like HCL Technologies may perform for better and higher amount of allocation may come in. Even part of the money may also go to Wipro in this frontline stock within the IT."
He further added, "In pharma space, Ranbaxy Laboratories and Dr Reddy's Laboratories are getting more amount of allocation going forward. So, these are the companies which are likely to get benefitted out of allocation of funds coming up. As far as we are concerned, we are focusing more on couple of companies within IT and pharma. We focus on HCL Technologies as a frontline company and KPIT Technologies within the midcap space. At the same time in pharma we like to hold Glenmark Pharma and Cipla in our portfolio."
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