Stick to defensives: Investors should hunt for large-cap funds, say experts

Mutual fund investors, especially those who came in during the recent bull run, need to remember that such downturns are part and parcel of equity investing

It has been a harsh month for stock market investors. With the S&P BSE Sensex shedding over 4,000 points or 11 per cent since hitting the all-time high of 38,896 points in August, and the rupee hitting 74/$, investors would be worried if they were staring at a 2008-like situation.
 
Deven Choksey, MD, K R Choksey, says: “After the mid-cap carnage last fortnight, now the fall has started in large-cap stocks. Foreign institutional investors are selling, and they sell what’s saleable in the market. Their exit is driven by the threat of rupee depreciating further. They are estimating Rs