FMCG will continue to do well, says Anu Jain

FMCG will continue to do well, says Anu Jain, Senior Vice President, IIFL Private Wealth Management.

Jain told CNBC-TV18, "FMCG will continue to do well, be it ITC, HUL despite bad news which came in. ITC has managed to close closer to its 52 week highs. So they have a very strong trend which will continue to be strong. Pharma is the other sector which even last week performed and which looks it will perform this week. The index weightage on Nifty is the big question. They are not really something which could move the Nifty. So even this week you have Sun, Cadila, and Cipla looking better on the charts, so these are things you can hold on, even if the market comes down these are not really going to retract."
She further added, "Oil and gas on the other hand, I think this is the first sign I would say to watch out for the sector. I am not saying that the trend is change. It is nowhere close to changing but it is definitely better than what it has been for the last couple of months."
"If you look at Reliance which did a 2% up, the whole week it is looking at least showing that there is some kind of stability at lower levels. ONGC has more traction