Seeking a Safe Haven

As the market tumbles, mutual fund managers recommend pharma, private banks and specialty chemicals to tide over the volatility


By the end of August 2018, the market was scaling new heights. The Sensex and Nifty were hovering around 38,900 and 11,800 respectively as easing trade war tensions and robust growth outlook propelled them to new highs. But the rally soon turned into carnage on the back of rising crude, falling rupee and the liquidity crunch induced by the IL&FS crisis. Pretty soon, in October, the Sensex was at 33,350 and the Nifty at 10,030.