Buy tech and pharma stocks: R Venkatraman

In an interview with ET Now, R Venkatraman, ED - India Infoline Group, talks about tech stocks and pharma stocks.

ET Now: On the entire IT pack, what is your call on tech stocks and why do you like pharma stocks? Is that the defensive way to approach the market at this point in time?

R Venkatraman: The reason why we are recommending people to buy technology is simply because the US markets are definitely witnessing some kind of consolidation or a recovery and all the bad news on the technology stocks have been factored in and sooner or later we will see earnings momentum catching up on the back of growing US economy. On the pharma front we are going through a period of I would say consolidation and in times like this, defensive stocks like pharma do well. So these are the reasons why we are quite optimistic on these two stocks.