Gautam Duggad, head of Research-Institutional Equities, Motilal Oswal Financial Services, said that the house is positive on financials, consumer and IT space while it prefers Maruti in the auto sector. However, he said the house is not positive on capital goods.

"The sectors where we have a positive viewpoint are financials, consumer and IT. In capital goods... everyone has a positive view on L&T because that becomes a default play on the capex cycle. However, where is the capex cycle right now from domestic investment viewpoint? I have no visibility," said Duggad in an interview with CNBC-TV18.

On the market front overall, Duggad said, “So far we have seen Nifty EPS stable for FY20 and also earnings upgrade and downgrades almost stable now at 1:1. Last quarter it was 3:1. Obviously the tax cuts have helped."

He further said that we might end the year with 10-12 percent EPS growth for Nifty.

In cement sector, he prefers UltraTech in largecaps and JK Cement among miscaps.