IT stocks may outperform: Krishna Kumar Karwa

Krishna Kumar Karwa, MD of Emkay Global Financial Services told CNBC-TV18, "In terms of portfolio construction, the expectations from banking stocks was hardly there and that is precisely one of the reasons why, wherever there was least expectations the rally did happen in that segment."

"If one looks at IT stocks, they have already done so well and they took a breather at the closing of the week. So my sense is that wherever there is gross underweighted vis-à-vis benchmark, there is consensus trade happening and the market tend to move the other way round but from a medium term perspective I still believe that IT stocks are in the mist of a very strong bull run and they will continue to outperform the broader market for at least year or so," he said.

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