Analysts turn cautious on consumption-related stocks as growth slows

Since the presentation of the Budget on July 5, the Nifty Consumption index has slipped 5.7 per cent (till July 23) as compared to a 5 per cent fall in the Nifty50.

Once flagged as the biggest driver for the economy and the related stocks at the bourses, India’s ‘consumption story’ seems to have run into rough weather in calendar year 2019 (CY19). After a strong mandate to the Narendra Modi – led National Democratic Alliance (NDA) in the general election, expectations were high that the Budget 2019 will help revive the economy. However, the proposals were met with a lukewarm response.

Since the presentation of the Budget on July 5, the Nifty Consumption index has slipped 5.7