In an interview with CNBC-TV18, Dhiraj Agarwal, Co-Head of Equities at Ambit Capital, said, “We continue to be slightly cautious and the reason is not the Omicron virus but simply because the market has run a bit ahead of itself."
“In a nutshell, we continue to be a little cautious on market, virus or no virus,” he stated.
Also Read:
Agarwal is positive on telecom companies hereon.
“We are positive on telecom,” he said.
Reserve Bank of India (RBI) liberalising bank ownership is certainly a positive for the banking sector.
“It is certainly a positive incrementally. Any popup because of this is only a trade, it doesn’t change anything structurally,” he said.
He is constructive on the pharmaceutical sector as well.
“Our view is that the pressure on generic prices in the US is more cyclical rather than structural and is likely to bottom out within the next one-two quarters and hence US facing pharma companies are the plays to be in. On a more structural basis, we should accumulate pharma stocks at this point,” he shared.
Also Read: Market correction healthy; positive on consumer discretionary, autos, banks: DSP Investment Managers
For the full interview, watch the accompanying video.
Catch all market updates here.
(Edited by : Dipikka Ghosh)
First Published: Nov 29, 2021 1:17 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
