Exit Polls: IT, pharma and consumer stocks will become underweight, says Anish Damania

In a chat with ET Now, Anish Damania, Head-Institutional Equities, IDFC Securities, shares his views on sectoral stand. ET Now: What is the sectoral stance that you would recommend at this point in time? From someone who is looking at a portfolio from a one year timeframe?

Anish Damania: We are standing at a situation where most of the investors are probably neutral with most of the sectors as the May 16th date unfolds.
If the poll results hold true to exit polls, then IT, pharma and consumers will become underweight and banks, capital goods and domestic cyclicals will be overweight. All through this though I would say deleveraging plays will be the first ones to benefit a lot more followed by the earnings growth stories. Also, wait for the May 16.