Buy stocks for long term: Motilal Oswal

Motilal Oswal, CMD, Motilal Oswal FInancial Services, in a chat with ET Now talks about the Budget and favourite stocks.

Why do you think this market is not really staying at the highest point of the day? Everyone is saying it is 10 out of 10 for the Budget. Still markets are not sustaining.

I think it’s too early for the market to give the vote on the budget.

What was your first reaction? What would you suggest potential clients, your dealers your premier brokerage - buy after the budget or to wait and watch, wait for the fine print then only buy?

I think our conviction on the long term buying stocks has really gone up and that’s what we are saying that at least buy the stocks for long term.

Do you love State Bank of India? Do you like it more after this Budget?

I think banking sector as a whole is one of the biggest beneficiary out of the Budget. I think because of fiscal discipline, the banks went through lot of stress, with this budge they have benefited.

Which is your favourite banking stock?

I would say in public sector it would be State Bank of India, in private sector will be HDFC Bank.