Mathai maintains a cautious stance on FMCG and consumer staples, citing stretched valuations (50-60x earnings vs. 7-8% EPS growth) which suggest a prolonged time correction. He is also cautious on internet and new-age companies due to high valuations and is trimming positions in metals as much of the optimism is already priced in and global prices will drive future returns.
Nifty FMCGBearishCalled 21 Jan 2026Graded 19 Jul 2026
Verdict:HIT

Nifty FMCG declined from ₹51402.50 to ₹45837.05, a decrease of 10.83% in 60 days.

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