Thursday 30 October 2008

Buy banking, infra, telecom frontliners: Angel Broking

P Phani Sekhar, Fund Manager, Angel Broking, advises investors to invest in frontliners from banking, infrastructure, and telecom space. “At this point in time, we are asking our investors to look at Nifty stocks and avoid metals. We advise selective exposure to equities. Although, a great amount of value has emerged in equities, we still advise our investors not to go all out and start investing at this point in time. We are urging them to start putting in 10-15% of what they want to invest in a very systematic way because we do not have a handle on where the near-term will take us.

According to Sekhar, the markets may bounce more than 7-9% from hereon. “Under normal circumstances, we would have expected 15-20% of bounce. But looking at the kind of incessant selling and the momentum, we would be hesitant to give anything more than 7-9% from hereon.”

Source: Moneycontrol

Posted by Harsh at 10:31

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