Prefer IT, pharma, private banks: Dipan Mehta

Dipan Mehta, Member of BSE and NSE told CNBC-TV18, "One has to see only up to the elections and even thereafter investor should have a defensive strategy in place. So keeping that in mind, it is best to go with the pharmaceutical and the IT companies, which are least affected by the election results considering that they are export oriented and have very little exposure to domestic markets. But as a balance or as a hedge, one could also be equal-weight in the consumer oriented stocks as well as the private sector banks but you will also benefit from any uptick, which takes place in the economy or any interest rate reductions or inflation cooling off, which will take place. So broadly, these are the four sectors that investors can be invested in and that would be a fair strategy giving a balance performance going forward."

"If the election results are murky then at least the technology and the pharmaceutical companies will benefit because there could be even further depreciation on the rupee. If the election results are positive then we have the private sector banks as well as the consumer oriented stocks, which will benefit from improved economic activity," he added.