Invest in banks, financial space on dips: Dharmesh Mehta

Dharmesh Mehta, MD & CEO at Axis Capital told CNBC-TV18, "My number one pick will be banks and financial sector because if the Indian economy revives, that will be the sector which will benefit the most. So all these dips, which are coming into the banking sector right now are great investment opportunities."

"Once you have these last quarter results coming out, I believe a lot of nervousness around this sector will go away. Next year definitely looks much better. You had the worst period of the banks behind you, so incrementally you are going to see positive newsflow coming into the next six-twelve months. So this is a sector, which you should invest in whenever you see prices falling down," he said.

"Pharmaceuticals looks good because it is a defensable sector and you will see some turbulence in the world markets and invariably people will start investing back into the pharmaceuticals. It is going to be stock specific rather than only the sector specific but yes, banking will be my top pick."