In volatile times, defensive stocks or defensive businesses? The two are different. 7 stocks from second category with an upside potential of up to 32%

Last Friday was probably the sixth time in 2024 that practically all sectoral indices were in the red. Needless to say, the market breadth was extremely poor. There was only one index in the green – the FMCG Index. The narrative was the same: FMCG stocks are doing well because they are defensive stocks. Should you buy into this narrative? Cut back to Wednesday for an answer: The biggest FMCG company declared its quarterly results with a 4% YoY drop in net profit. On Thursday, the stock tumbled 6%. So, in just three days: Defensive stock, to poor results, to drop in stock price.