Stock valuations look expensive on lack of earnings growth, leaving stock investors longing for a sharp market correction.Everybody is waiting for a correction. We keep on investing when we get a correction,” Jaipuria said.He said often corrections are seen within a bull market , but calendar 2017 has not seen any meaningful correction at all.So, if you do not get a correction, what happens is effectively the market just tends to flatten out a bit at some point. It goes into a ring-bound phase and future returns tend to be slightly lower to that extent.“We will get a correction. You have to dig in this market to create an alpha in the portfolio,” Sachdev told ET Now.He prefers the agri space, which includes makers of agrochemicals, seeds, crop protection products and farm equipments. He likes NBFCs across housing finance, auto finance, gold mortgage finance, microfinance and stock broking businesses.Besides, companies in roads, railways, power transmission and distribution and defence also find a place on Sachdev’s watch list.

Source: Economic Times December 01, 2017 07:24 UTC