Prefer Axis Bank, Tata Motors, Maruti Suzuki: Saneep Bhatia

Sandeep Bhatia - Executive Director at Kotak Institutional Equities told CNBC-TV18, "I think high valuation stocks will take a beating. If earnings growth does not come through in this market, valuations are at risk. Especially for the pharma sector we have seen the beginning of the result season. The first few indications have not been overly positive. We will see more of that happening for most of the stocks."

"Even in the consumer names which are expensive, earnings have been modest at best so, clearly there are issues. I would confine myself to the auto sector or to the financial sector. I think Axis Bank is interesting, it is a good trading stock. In auto sector we have liked Tata Motors and we continue to like Maruti Suzuki India," he said.