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Defensives FMCG, pharma, IT may gain as investors on backfoot after weak mandate for NDA

Money ControlMoney Control Ā· 5m
Defensives FMCG, pharma, IT may gain as investors on backfoot after weak mandate for NDA

The Nifty FMCG index outperformed other sectoral indices in the market, ending nearly 1% higher. The mediocre performance of the NDA coalition in the recent elections could benefit the fast-moving consumer goods (FMCG), pharmaceuticals, and IT sectors indirectly. This is because the weaker-than-expected mandate may result in increased government spending on welfare schemes, potentially reducing funding for capital expenditure. Market experts suggest that defensive sectors like FMCG and IT may offer safer investment opportunities amid market uncertainties. Additionally, the pharma sector is considered a defensive bet due to its relatively stable performance during economic downturns.

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