Look at companies in this period on merit basis: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities, talks about markets trends.

ET Now: What’s your view on the defensives because the last two days, the pattern has been that high beta has now taken over defensives? Would you use this opportunity to buy more?

Deven Choksey: The market is more stock specific whether high beta or defensive; I do not look at that in that kind of a manner because important part is that in a market like this where the certainty is not there, whether this particular rally would sustain, you do not end up getting into the stocks where you do not have the fundamental confidence, so generally we have been looking at the companies all along. Where we have larger fundamental confidence, the growth story, the confidence in growth story, the management, the business, etc., so certainly for us to look into the companies in this period would be more on merit basis. I would probably not give as much importance to the beta factor at this point of time or defensive at this point of time. I would continue to accumulate my liking of stocks into the portfolio, so that at least when the market turns favourable, they start giving you some quiet and decent return.