Budget 2023: Why metal stocks are still risky and which are low-risk sectors? Here's what Anil Singhvi recommends

Budget 2023: The metal sector is witnessing weakness amid current global uncertainties, and international metal prices are on a downward trend. Zee Business Managing Editor Anil Singhvi advised against taking any fresh position in view of impending global recession. 

"If you have limited money then you should think wisely where to invest your money. Invest in the stocks where risk is low and metal is not in this category for now," he said. "I have clearly said that investors should be careful while investing in these two sectors - IT and Metal. On IT, we have turned neutral, although, we don't have any positive outlook on it for now, and negative on metal," he opined. 

Zee Business' Managing Editor Anil Singhvi also suggested his positive picks for stocks — Banks, Railway, fertilizers, cement, agro-chemical, infrastructure and liquor.  "These stocks are 'buy' on dips," Singhvi said. 

He further noted, "We are positive on textile and paper too. So, investors should clearly buy stocks which are showing positive outlook, rather than those which fall in risky sectors. If the global situation is risky due to global recession then it is advisable not to venture there."

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जरूर देखें @AnilSinghvi_ का ये वीडियो...#ZeeBusiness https://t.co/AHww1pwNDw#StockMarketindia #Metal #StocksToBuy pic.twitter.com/3oqCWNgKiS

— Zee Business (@ZeeBusiness) November 18, 2022

 
Anil Singhvi in an earlier broadcast had said that this quarter is really bad for metals. "There is absolutely no demand, no capacity utilization." In addition to a decline in demand, the price of fuel, raw materials, and electricity hurt the metal industry severely. Moreover, China's COVID-zero policy, of late, has led to a drastic decline in demand for metals from that country.

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