There are diverse performances within the sector: Dhiraj Agarwal, Standard Chartered Capital

Dhiraj Agarwal, Director, Institutional Equities, Standard Chartered Capital Markets,in an interview with ET Now talks about the banking sector



What are you telling your clients to do sell in the month of May or much of the selling is behind us?

In fact we are not taking too much of a big market call at this point of time. Our focus is more stock specific and sector specific. If you see barring what has may have happened in the last four or five days or even including what has happened in the last four or five days markets for the last year and a half has been in a sort of a broad 15%-17% range but the stocks and sectors are doing their own thing. So we are shying away at this point of time from making a big call in the headline indices and trying to be more bottom up focused.


What is the call on the banks because all the bad news now seems to be priced given the kind of selling that we have seen not just last week but 20 days ahead of the RBI action as well, is it time to go and buy on dips?

Selectively yes and again even within the bank space given every single bank’s positioning and business model the current environment will affect them differently. So for few banks there could be margin pressures of 50-60 bps. For few it might only be 15 to 20 bps so that is another interesting trend in the market which has been currently happening that even within the sector you are seeing very very diverse performances both in terms of earnings as well as stock price movements.