The Budget 2019 announced by Nirmala Sitharaman brought forth some unwelcomed moves such as the FPI levied surcharge, announcement of tax on share buybacks and the ongoing US-China spat have played a spoilsport and have led to the declines in benchmark indices since then. While Nifty has cracked a sharp 8% from its peak, the Sensex has lost as much as 9%.

Here is the list with their respective gains made:

Global factors such as the depreciation in rupee against the dollar have worked well from IT, pharma. Decline in oil prices have led the stocks from paints category to rally.
Pharma stocks have outperformed in their June quarterly numbers with better EBITDA numbers. Furthermore, despite the murmurs around consumption slowdown in the wake of economic downturn, large FMCG players including the likes of Nestle, Dabur and HUL have managed to deliver returns.

So, given the current correction in valuation of stocks, even beyond their value, should prompt investors to pick value stocks that have good fundamentals, management and other sound factors and may go in from stocks from the construction, hardware, IT sector stocks. Pharma stocks too have bottomed out in price that provide opportunity for buyers to book the stock at the current attractive valuations.

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