Wait and watch as far as commodity stocks are concerned: Sudip Bandyopadhyay, Destimoney Securities

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities Pvt Ltd, shares his views on markets. Excerpts:

ET Now: When your clients asked you about what to do with the commodity-led names, looking at what is happening globally, what will be your advice?

Sudip Bandyopadhyay: One has to be extremely careful with the commodities which are global in nature. Most of these commodities is definitely slowing down. There is a problem in Europe. The US growth has not picked up the way it was expected so the entire thing is putting lot of pressure on the commodity prices and that is getting reflected in the prices of most of these commodities in the international market.

Some commodity names are looking very attractive in terms of valuation but we strongly believe that time has not yet come to buy into these stocks, so it will be a wait and watch as far as commodity basket is concerned. These kind of dips provide opportunity for buying lot of other interesting stocks which are not linked to global commodity cycle.