Prefer private sector financials stocks: Jonathan Garner

Jonathan Garner, MD of Morgan Stanley told CNBC-TV18, "We like private sector financials and the consumer discretionary and the industrial cyclicals area. We are a little bit more lukewarm on software names given we expect the rupee to be at least stable if not on appreciating trend but we have retained our core exposure to generic pharma stocks."

At 11:24 hrs Mahindra & Mahindra Financial Services was quoting at Rs 260, down Rs 2.15, or 0.82 percent.

The share touched its 52-week high Rs 344.90 and 52-week low Rs 229.50 on 12 November, 2014 and 17 April, 2014, respectively.