Shares of defensive sectors such as drug makers and consumer goods drop as investors bet the Fed's new asset purchase programme will favour cyclicals and high beta stocks.
Like this story, share it with millions of investors on M3
Defensive stocks slump in post-QE3 reaction
Shares of defensive sectors such as drug makers and consumer goods drop as investors bet the Fed's new asset purchase programme will favour cyclicals and high beta stocks.
Like this story, share it with millions of investors on M3
Defensive stocks slump in post-QE3 reaction
Shares of defensive sectors such as drug makers and consumer goods drop as investors bet the Fed's new asset purchase programme will favour cyclicals and high beta stocks.
Shares of defensive sectors such as drug makers and consumer goods drop as investors bet the Fed's new asset purchase programme will favour cyclicals and high beta stocks.
Cigarette maker ITCfalls 0.8%, while personal care products maker Maricofalls 1.6%.
Defensive sectors had recently shined, with the NSE pharma sub-index up 24.7% this year as of Thursday's close and the NSE fast-moving consumer goods sub-index up 36% in the same period.
Instead, investors preferring cyclical stocks such as Infosys, up 2.2%, or stocks that have recently been beaten-down stocks such as IVRC Ltd, which jumps 7.2% after slumping 27.3% over July and August.
