Seven Nifty stocks survived a two-month market bloodbath, signaling defensive resilience.
Context
What happened: Seven Nifty stocks outperformed or limited losses over a two-month market fall, as FPIs sold and the Nifty and Sensex each fell about 5.7% in September.
Key numbers: FPI outflows of Rs 25,662 crore in September, a six-month high.
Why it matters: Brokerages cited defensive sectors and company-specific support. Macquarie upgraded Kotak Mahindra Bank to Outperform. Nomura kept Buy on Dr Reddy's with a Rs 1,740 target. Citi upgraded Dr Reddy's to Buy from Sell. Goldman Sachs kept Buy on Eternal and raised its target to Rs 385 from Rs 345.