LIVE: IT Stocks Drag Markets Today - What Should Investors Do Now? | Devarsh Vakil

Indian markets are entering a phase of recalibration after three major events - the Union Budget, the India-US trade deal, and the India-EU agreement - removed key uncertainties. According to Devarsh Vakil of HDFC Securities, the completion of the US trade deal has eased pressure on the rupee and is likely to slow FII selling, with selective foreign inflows returning. While IT remains market-weight amid disruption and potential buybacks, Vakil sees strong mean-reversion opportunities in value-driven sectors. Cement and road construction stand out due to attractive valuations and higher infrastructure spending post-budget. BFSI, auto, capital goods, and telecom remain core portfolio holdings, while healthcare warrants caution after a strong run. Investors should focus on quality stocks, valuation comfort, and patience to capture medium-term gains.