Stay selective on defensives amid current market volatility: Analysts

Given the uncertainty on how the market trajectory may play out ahead, analysts believe investors can rotate allocation from high beta stocks to defensive plays albeit selectively

Equity markets have remained range-bound so far in the calendar year 2023 (CY23) with volatility extending to a second month due to the Adani-Hindenburg row.

Given the uncertainty on how the market trajectory may play out ahead, analysts believe investors can rotate allocation from high beta stocks to defensive plays. Though this should be done by being selective within the defensive pack, they add.

While the NSE Nifty index is down nearly 2 per cent so far in CY23 amid relentless foreign investor selling, defensive pockets like Nifty FMCG and IT indices have outperformed the frontline index by rising 5