It's festival week, and Indian markets have recovered some of their losses over the past few days. Markets globally also bounced back on hopes that the US Federal Reserve will slow interest rate hikes. However, we will have to wait until the Fed's next action and September quarter results to see if this rally sustains. Foreign institutional investors have been jittery, and they pulled out Rs 11,883.3 crore from the Indian equity market in September after two consecutive months of inflows.
Right now, we are interested in the out performers. Last week, we identified sectors that hold promise even in a weakening market, thanks to strong domestic consumer demand: travel, paints, hotels and jewellery. This week, with the Q2FY23 results just around the corner, we look at another sector - consumer durables - that may show similar strength with the cooldown in raw material prices.
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