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videos | IST

Safest bet for 2019 is IT sector, says Edelweiss Securities

Edelweiss Securities believes that the safest space to invest in 2019 is IT sector, said Aditya Narain, head of research.
Narain said that one should take positives from the crude but should take greater negatives from global weakness.
"Markets are not only about flows. Flows effectively help but the direction of the global economy, if you see the risk appetite that is building in there, I do not think that they can be so dichotomous in terms of the global side being so weak and India standing out so differently," he said.
“I would generally be cautious in the near-term and into the elections,” he added.
Narain further said that we expect earnings growth of 17-18 percent for the current year and 24-25 percent for the next year.
Talking about pharma sector, he said, “At the bottom up level we are much more optimistic on a couple of stocks. So at the model portfolio level we actually have an overweight and the logic behind that is a couple of strong calls on stocks, Lupin being one of them and Dr Reddy's Laboratories is the other one.”