Expert view, Sept. 30 -- Achin Goel, CFA, CIO and Fund Manager at Bonanza Portfolio, sees selective value in this market. He finds stock-specific opportunities in sectors such as precision engineering, defence and aerospace manufacturing, power transmission, electronics manufacturing, and data-centre infrastructure. In an interview with Mint, Goel shared his views on the biggest market headwinds and suggested an equity investment strategy. Edited excerpts:

Value is emerging, but selectively. After a period of weak headline index performance, the market is rewarding earnings visibility, balance-sheet strength, and, more importantly, execution rather than broad-based beta.

I would avoid anchoring to a single "normal" market P/E; the scope...