S Naren, CIO at ICICI Prudential AMC, spoke to CNBC-TV18 about the stock market valuations and shared his outlook on equities.
"From an investor point of view, this kind of an environment is superior to what it was at the start of the year because baring a handful of stocks in largecaps, midcaps and smallcaps, most of the market is reasonably valued creating interesting investing opportunities," said Naren, adding that the correction looks healthy.
Talking about the outlook for the market, he said, "India has drastically outperformed all global markets last few months but there are interesting investing opportunities emerging."
"The Indian market could remain volatile for the whole of 2019 due to both local and global reasons," he said.
With regards to the IT sector, he said,"The long-term view looks good but one has to be very selective. The next 3-5 years look good for infrastructure and capital goods stocks."
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