Cautious on making cash investments in current market, says Harsha Upadhyaya of Kotak MF

According to him, "In a bull market, the bullish news gets amplified and in a bearish phase, negative sentiments rule the roost. So everything may not be as bad as it is coming out to be but at the same time it is not likely to be a V-shaped recovery, it will be a slow grind."

When asked if he would be concerned about the banking sector, he said, “At least until now we haven’t seen any risk building up on the retail side for banks. There is a scare that if things keep worsening at this scale at some point of time there could be some issues on that side but as of now that book is stable.’

The NBFC segment which led to freezing in credit markets over the last one year, hasn’t really impacted the asset quality of some of the banks that were good in terms of asset quality."

"So, on a generality basis, one cannot say that all banks have a lot of risks or are all are good, one will have to look at them from a stock-specific perspective, taking valuations into consideration and construct a portfolio", he said.