Sanjay Dutt, director at Quantum Securities, is of the view that now is a good time to buy favourite stocks that have good long-term growth stories.

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"The market is currently trading at reasonable valuations and is sustaining every wall of worry," Dutt said in an interaction with CNCB-TV18 on Monday.

From the financial space, Dutt is overweight on select largecap PSU banks like SBI, Canara Bank, Bank of Baroda from one or two year perspective on the back of India growth story.

"Consumption along with capital goods are spaces where one can look at selectively. Consumption theme is going to play out for a much longer time than anything else in India. So wherever there is attractive valuations like Dabur is a great story to be invested in,” he said.

However, he is not bullish on Jubilant Foodworks because, according to him, "the model there is a bit risky and it looks a bit stretched."

With regards to the auto sector, Dutt said, "If they are going to take a break for one-two quarters, one should not be very concerned and one could wait for a 1-2 quarters to buy into good quality names."

"If one needs to have technology exposure in their portfolio then one could use the correction to add some of the good names like HCL tech, Infosys, or a TCS because they are well positioned for the new verticals they are looking at, "said Dutt.

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