Markets are in what Varun Saboo, Head of Equities at Anand Rathi Shares & Stock Brokers, calls "a very tricky situation." Three macro variables, crude oil prices, the rupee, and rising global interest rates, are all moving simultaneously, and none of them are in India's favour right now. The Iran-US standoff adds a binary dimension: a de-escalation could trigger sharp reversals just as quickly as the recent selloff arrived.
In this environment, Saboo's prescription is clear: ignore top-down sector calls and go stock-specific. "Best is to be bottom-up and look at stocks which are safe right now in these times," he told ET Now.
