After underperforming in the broader market for two years, the stocks in the defensive sectors — FMCG, IT Services and pharmaceuticals — are once again finding favour among investors. The combined weight of these three defensive sectors have now increased 27.6 per cent from the four-year low of 27.1 per cent in December 2023.
The surge has been led by pharmaceutical manufacturers but FMCG and IT services companies out-perform the broader market in July.
Top pharma companies such as Sun Pharmaceuticals, Cipla and Divi’s Laboratories have, however, been among the top performing index stocks on a year-to-date
