At a time when the Nifty and Sensex are trading with cuts in excess of 1%, talking of buying stocks may not appear quite right. But corrections are part and parcel of the market, whatever the reason. They will keep happening at regular intervals. These corrections provide a buy opportunity from both a medium- and long-term perspective. Look for sectors where the market size is big, and the demand is secular in nature. Additionally, if they have emerged from a phase of consolidation, it means managements have learnt to weather the storm – also valuations will not be too high. At this point, it is the pharma sector which fits the bill.
