Ratnesh Kumar cautious on consumer sector

Ratnesh Kumar, Independent Market Expert told CNBC-TV18, "One theme probably on the negative side to watch out for is the rural consumption slowdown. You had a segment of the market especially consumer sector, which has performed especially in an environment where market was struggling to find good numbers or good earnings growth. So that is one area where I would say we should be cautious and avoid."

"On the positive side, the thematic play I would still have is that the government is doing a lot of things, there are lot of policies which are there. As of now, they are not reflected on the numbers, they will eventually whether it takes two quarters, whether it takes four quarters. So from an investors point of view, economy cyclicals, economy sensitive sectors regardless of how much rate cut is there because whether there is another 50 bps rate cut or another 75 bps rate cut for the rest of the calendar year, I don’t think that will be a determining factor on investment cycle," he said.

"Other things will determine the investment cycle and if that turns then economy sensitive infrastructure, construction will remain a good thing and related to that good banks. Every time you have an economy which is going into a better phase, the banking sector always performs well."