Underweight on metals and mining sector: BP Singh

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

ET Now: What is it that you are sensing about the metals and mining names, further weakness to go or do you think after the recent correction?

BP Singh: There is some more fall possible because if one looks globally, except for United States no other part of the world is at this point of time growing. What is happening globally on the currency side will have its negative impact on the growth as far as the rest of the emerging economies are concerned.

We are not feeling the pinch in India at this point in time because central bank is really handling the currency situation very well. But it will have an impact as far as the global demand is concerned.

Commodity companies definitely get affected because of the global demandm which is slowing down at this point in time. We are aggressively underweight on the sector and we intend to carry on that particular position for some more time.