See some correction in banking space: BP Singh

In a chat with ET Now, BP Singh, Executive Director & CIO-Equities, Pramerica Mutual Fund, shares his views on banking sector.

ET Now: You had the headroom to increase exposure to banks. Would you do them at the current levels and if so would you touch PSUs at all or would it be all privates?

BP Singh: The banking sector has done very well so there will be some amount of correction because of the global cues. There is some amount of uncertainty on account of activities in the domestic market.

We do not see fundamentals deteriorating from here. In fact, in our opinion the decision on coal is a good news because it ensures that there will be a coal supply which will be restored. We are looking to add to this particular sector but we are not looking to add to the sector straight away. We will rather wait for some more correction and then start adding because we are quite positive if I take a medium to long term view but in the shorter period, probably there is some amount of correction is still pending.