Analysts downgrading FMCG stocks; pharma looks good: Hemindra Hazari

In a chat with ET Now, market expert Hemindra Hazari, talks about the ongoing earnings season.

ET Now: Can you name the sectors that have stood out for you this earnings season? I know you do not believe that there is anything right now which is looking interest enough to buy. But in terms of Q2 results ex-banks, what has stood out either positively or negatively for you?

Hemindra Hazari: FMCG space has been a disappointment. That was one of the few sectors where at least I was somewhat positive on. What we have seen that the slowdown is even impacting their sales.

ET Now: So which one disappointed you the most- was it HUL, Dabur?

Hemindra Hazari: Even HUL has disappointed us. Analysts have started downgrading their forecast on a lot of FMCG stocks. The top line for FMCG companies is not growing and that is the biggest issue so far. The only thing which is now looking somewhat better off is the pharma space. I like Divi's Labs. It is showing better-than-expected results. Today, there are very few companies which are outperforming analysts' expectations. That is the tragedy here as we don't know where to invest our investable money. Valuations are huge on good quality counters.