Even as the equity benchmark indices Sensex and Nifty continue to remain under pressure amid vicious sell-off in the market, investment advisor Sandip Sabharwal says that banks stocks could be the next major underperformer. In an interview to ET Now, Sandip Sabharwal said, \u201cMarkets are in a corrective phase, about half the correction is already over; banks could underperform in the next half of correction.\u201d Apart from banks the expert pointed out that the commodity prices have started correcting; and the sell-off in commodity stocks will be sharp.\u00a0In fact many experts point out that the markets are have entered the correction phase. In fact even Rakesh Jhunjhunwala has predicted a short- term correction. \u201cMarkets may in the short-term correct. But in a bull market the correction is always sharp, swift and short-lived,\u201d Rakesh Jhunjhunwala told Reuters. Top market voices have pointed out that an earnings recovery is key to sustain the markets, else it may correct further. In an interview to CNBC TV18, Mihir Vora, Director & Chief Investment Officer, Max Life Insurance said, \u201c I guess it\u2019s a bit of consolidation, it\u2019s down 2-3% from the peak, which is fine. But the fact remains that we need earnings momentum to come back to the stock market.\u201d Yesterday, Sanjeev Prasad of \u00a0Kotak Institutional Equities pointed out that even though the earnings season has been better than expected, the first half seen as a whole hasn\u2019t seen growth. \u201cIf you look at the first half numbers in totality (in the first half), there hasn\u2019t been growth in the EBITDA level so far. So hopefully we will see some growth in the next half as we go forward,\u201d Sanjeev Prasad told the channel. In an interview to ET Now, Leo Puri, Managing Director of UTI Asset Management Company said last week, \u201cIn the long-run we have to look for earnings, and earnings recovery, but that remains tepid. \u00a0There are early signs, but it will take at least 12-18 months for strong earnings recovery.\u201d He recommends that the Indian households look beyond equities and invest into debt. \u201cGlobally, return expectations have been aligned lower. In that context, it makes a lot of sense for the households to look at fixed income, and a rebalancing of their overall exposure,\u201d he told BTVi last week.