Deven Choksey, managing director of KR Choksey Investment Managers spoke to CNBC-TV18's Prashant Nair and Ekta Batra on market fundamentals and shared his recommendations on specific stocks and sectors.

“I feel that comfortable position would be for the automobile companies and given the situation for automobile companies, the commercial vehicles companies are relatively better along with the auto ancillary companies, which are consuming the metal as a commodity would be relatively better,” said Choksey.

Talking about oil, he said, “What we are seeing is that Russia and OPEC-led decisions to increase the output is now putting the pressure back on the oil and oil is coming down. I have been on record saying that somewhere between $60-65 per barrel, it makes economic sense for most of the oil producing country to keep the oil prices at that. If they start increasing it further I think they are inviting alternatives and that is where I believe that oil prices should remain in the range of $55-66 kind of a range.”

Choksey expects the current account deficit situation to benefit from weak oil prices as the import bill will come down.

First Published:Jun 18, 2018 12:31 PM IST