Even though green shoots can be witnessed in several parts of the economy, the growth rate is still not enough and needs a \u2018beat\u2019, said Sanjay Mookim of BofAML. Similarly, the latest correction being seen in the Indian stock markets can be taken positively as such correction has historically been a great buying opportunity for investors, ET Now reported citing Sanjay Mookim. The speed of earnings revival is critical for the stock markets to head higher, he added. About making investment into banking sector, he told ET Now that the investor interest in banks will take some time revive. The incentivisation in public sector not as market oriented as in the private sector, he added. Furthermore the market has started assigning too much premium on turnaround expectation in most PSUs, said Sanjay Mookim. India not having bear market Meanwhile, even as the stock markets remain volatile on the back of factors such as the political environment and global crude prices, ace investor Porinju Veliyath says that India is not having a bear market, and will not have one in the near future. \u201cThere are underpriced and overpriced stocks everyday in the market. Markets have come up every time there has been a sentiment driven fall. We are not in a bear market,\u201d ace investor Porinju Veliyath said in an interview with ET Now. Explaining what exactly constitutes a bear market, Porinju explained by taking Japan\u2019s example. \u201cIn 1989, in on December 29th the Japanese Index Nikkei had gone to 39,560. Today, after three decades its at 22,500. This is called a bear market. This might have happened in the 1930\u2019s in the United States, you would have heard in history,\u201d he said. But will India ever have such a scenario? \u201cJust 3% of the world\u2019s wealth is in India. We are too small a base and we talk about bear market?