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Stocks•5 May 2026•

1 min read

Morgan Stanley: 90% of India Consumer Stocks Outperform Sensex in April

Key Facts

1Morgan Stanley reported that 90% of covered consumer stocks outperformed the Sensex in April, up from 60% in March.

2Food and beverage stocks including Varun Beverages, Trent, and Nestle led gains, while paint stocks saw significant declines.

A recent report from Morgan Stanley highlights a significant surge in the Indian consumer sector's performance during April, with 90% of covered stocks outperforming the benchmark Sensex index. This marks a substantial improvement from March, where only 60% of these stocks managed to beat the index. Leading the gains were prominent food and beverage companies such as Varun Beverages, Trent, and Nestle, reflecting a strong rotation into consumer staples and discretionary names. Conversely, paint stocks experienced notable declines during the same period, creating a divergence within sub-sectors. Analysts suggest that this short-term momentum comes despite the sector's broader underperformance over the past 12 months. These movements indicate a strategic shift by investors toward consumer-centric equities amid broader market volatility.