Global and Indian equities are witnessing selloffs triggered by the novel coronavirus outbreak and several industries such as metals and utility are bracing for its impact. But, according to Motilal Oswal, there's one sector that's likely to benefit.
“The only beneficiaries out of this seems to be chemical companies where we have seen price action also,” Gautam Duggad, head of research of institutional equities at the research firm, told BloombergQuint in an interview.
Indian chemical makers have gained in the range of 2-17 percent so far this year even as the benchmark Nifty 500 Index tumbled.
On the other hand, global cyclicals such as metals, oil and gas will be the losers, Duggad said. “They're in the first line of fire because commodity prices are going down.”
Watch | Motilal Oswal's Gautam Duggad On The Stocks He Likes Amid Coronavirus Outbreak
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