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Defensive Sectors' Loss Is BFSI's Gain

Business Standard

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March 06, 2025

The decline has been led by the FMCG sector, whose weighting has fallen by 160 basis points (bps) since March 2024 to 9.5 per cent, followed by the pharma sector, which has seen a 70 bp decline to 3.1 per cent.

The IT services sector has performed relatively better, with its weighting rising 20 bps over the past year to 12.7 per cent.

However, all three sectors have underperformed the broader market since the start of 2025. The Nifty Pharma index is down 14 per cent year-to-date (YTD), followed by Nifty IT (-12.1 per cent) and Nifty FMCG (-9.7 per cent). In comparison, the Nifty 50 has declined 5.5 per cent YTD.

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