Avoid realty, PSU banking space at least for next quarter: Edelweiss

In a chat with ET Now, Ambareesh Baliga, Managing Partner-Global Wealth Management, Edelweiss Financial Services, shares his views on sectors to avoid this quarter. Excerpt:

ET Now: What is it that you are avoiding in the market right now?

Ambareesh Baliga: Realty is one space which we have been avoiding for quite a while and even now, we continue to do that. We see a lot of pain in that space and in the PSU banking space where there would be pain at least for the next quarter.

We would actually wait for the March quarter results where again you will have more NPAs coming out of the cupboards. At that point of time again, you could have a further correction or underperformance on the PSU banking space. Hence, that is another space which we will avoid at least for the next two or three months.