Prefer IT sector, says Ritu Arora

Ritu Arora of Canara HSBC OBC Life Insurance told CNBC-TV18, "I would prefer IT sector. It gives me a lot of conviction because of the visibility on earnings that I can see there. It is definitely a sector well poised and will continue to give stable returns going forward."

"Sector which worries me now which I was quite positive about is automobiles. I would want to evaluate a little more, wait for another quarter for numbers. However, it is definitely a sector which was an overweight sector which requires revaluation," she added.

Disclosure: We are an institutional investor with long-term horizon so we do have investments across sectors. We have done a balanced largecap portfolio.