homevideos Newsmarket Newsstocks NewsPrefer to buy into IT, chemicals, logistics, cement, steel sector on dips, says Pashupati Advani of Global Foray
Prefer to buy into IT, chemicals, logistics, cement, steel sector on dips, says Pashupati Advani of Global Foray
"IT stocks have to be bought on dips because they are the bellwethers of the index. Right now there is pressure on IT because people feel that rupee is getting stronger against the dollar but I don't think that that trend is going to be that rapid. I also think chemicals, logistics, cement and steel sectors have been the sectors that one has to look for and try to buy on dips," he said.
Pashupati Advani, founder & chairman of Global Foray believes that the dollar may either hold value or even get stronger which is likely to put pressure on emerging markets.
He said, "With higher rates, money will go back to the US, particularly since in Europe the rates are still very low. I am not in the same camp as certain people saying that the dollar will remain weak. I think the dollar may actually hold value or maybe even get stronger and which is also going to put some pressure on emerging markets."
He advised investors to buy into IT, chemicals, logistics, cement and steel sector on dips.
"IT stocks have to be bought on dips because they are the bellwethers of the index. Right now there is pressure on IT because people feel that rupee is getting stronger against the dollar but I don't think that that trend is going to be that rapid. I also think chemicals, logistics, cement and steel sectors have been the sectors that one has to look for and try to buy on dips," he said.
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(Edited by : Aditi Gautam)
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