ICICI Bank a safe bet to invest: Sangeeta Purushottam

Sangeeta Purushottam, Market Analyst, in a chat with ET Now, shares views on banking stocks.

What’s the call now in the banking pack? What would you recommend buying?

Sangeeta Purushottam: Banking stocks have a huge weightage in the market. If you want to be invested for the long-term, you cannot avoid banks and valuations are broadly reasonable. It is possible still, the only caveat is that over the next six months, we may not see performance or we could again see them testing the earlier lows but those would be actually opportunities to add. It is safer to buy something, which has a story, which is beyond the banking pack itself, so that gives you an added comfort, so a stock like maybe, ICICI, which has its own turnaround story built into it. It could give you something extra beyond the index but overall I would buy bank stocks at lower levels.

Give us one stock idea where you are convinced that the margin of safety is strong and you will bet your family silver?

Sangeeta Purushottam: ICICI Bank.