Commenting on specific sectors, Bhat is positive on white good makers which have been consistent performers on a year-on-year basis.
UR Bhat, managing director, Dalton Cap Advisors says the rupee won't see any respite and that FII outflows would be a regular feature for EMs like India.
Market reacted positively on NR Narayana Murthy's return as its stock surged 8 percent higher in the opening trade. But, brokerages see challenges ahead for Murthy as it judged its problems as deep.