Talking to ET Now, Manish Sonthalia, Motilal Oswal Asset Management-PMS , says most hated sectors in the markets currently are IT, pharma and consumer and he likes all three.
Edited excerpts:
You were bearish on small and midcap stocks -- may be slightly ahead of time -- but now finally your assessment has come true. Do you think midcap stocks still have some more scope to correct or are we nearing the end of the decline?
Mid-cap and small-cap stocks have actually corrected quite a bit. I do not think there is an additional reason for bearishness in many of the mid-cap and small cap stocks provided the earnings growth visibility on these names is there in FY19 and FY20. If the earnings growth trajectory looks good, I do not see too much of a concern over the correction in the markets even in the small and midcap stocks from these levels.
