Mihir Vora, director and CIO, Max Life Insurance, believes that 2019 has started with mixed macros wherein global macros are favourable while local macros are turning a bit negative.
The global macros like oil prices, currency are stable while in local macros, one is seeing slowdown in auto numbers, cement numbers, which indicate signs of demand slowdown, he said in an interview with CNBC-TV18.
Sector specific, he said the IT pack is in a sweet spot and the house is a bit overweight on the space. “It is a low beta sector, it is defensive with good quality cash flows. So don’t expect huge volatility for the sector and if it corrects sharply, it would be a time to buy," he said.
On the consumption space, he said with government stimulating the economy both, the rural and urban consumption theme should continue. So, in the short term one should enjoy the consumption boom.
On financials, he said they would stay away from the NBFCs but prefer the private corporate and retail banks. "Since the NBFC situation has still not improved, one could see business shift from them to private banks," he said.