Taher Badshah, CIO-Equities at Invesco Mutual Fund, hopes that the fall in the markets is a passing phase. In an interview with CNBC-TV18, Badshah said, "I hope that this market fall is a passing phase and we are able to bring control over the situation.”

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“The next few weeks are the ones to watch, we need to see how this situation unfolds,” he said.

In terms of earnings, he said, “Components of earnings drivers will change a little bit, some will strengthen, some will weaken. I would like to probably think of the markets as divided more from the point of view of global versus local. The domestic stories will probably take a little bit of setback.”

“IT, pharma, some of the global cyclical, the commodity cyclical would hold a reasonably decent favour but domestic stories – the ones centred around the consumer – will probably take a little of a backseat,” he mentioned.

On autos, he stated, “Incremental inclination to add in this sector at this stage would be a little lesser. Some of the industrial cyclical or the commercial vehicle (CV) space probably should hold up reasonably better.”

According to him, ferrous is still a decent space. “Over domestic cyclical, I would rather play global metal cyclical. Within which steel and its associated components do stand out and that is where we would like to put our money in this kind of a correction,” he explained.

For the full interview, watch the video.

(Edited by : Priyanka Rathi)

First Published:Apr 12, 2021 12:06 PM IST