The recent market volatility triggered by central bank actions has made analysts cautious and they suggest investors remain stock-specific. Among sectors, they believe defensives, such as fast-moving consumer goods (FMCG) and pharma, remain the best bet to ride out this uncertain phase.
Those at Jefferies, for instance, believe the Nifty50 can retest 15,500 levels. The key question, they said, is which stocks shall be defensive in view of this potential decline in the markets as the trends keep changing.
“FMCG, power utilities, and pharma will be good defensive plays. On the other hand, realty, non-banking financial companies (NBFCs), metals, and industrials can