Prefer HCL Tech, Infosys: Deven Choksey

Deven Choksey, MD at KR Choksey Shares &Securities told CNBC-TV18, "The risk aversion has come back largely due to the renewed threat of fiscal deficit. So, to a greater extent this is where the trouble has started and that is why the impact is likely also to come on the banking stocks eventually. That is where the market is nervous and the amount of money has started shifting into the risk aversion."

"The frontline IT companies are suggesting good amount of growth going forward in this year. Having heard most of the frontline IT companies and the management commentaries believe that likes of HCL Technologies and Infosys could end up showing better performance going forward in this financial year of 2014-15. Do not surprise if you get the direction coming up above 15 percent rate of growth going forward in the subsequent part of the financial year. So, to a greater extent the choice number one would remain with HCL Tech to begin with and Infosys along with, so these two companies within the frontline IT space," he added.