The pharma sector and the FMCG (consumer staples) sector would fare better in a recessionary environment, to an extent. However valuations in most of the FMCG companies, and in some of the pharma companies, may not offer much upside from present levels.
from Moneycontrol Market Outlook https://www.moneycontrol.com/news/market-outlook/daily-voice-|-exide-life-cio-shyamsunder-bhat-sees-substantial-fii-purchases-next-yearpotential-portfolio-re-allocations_16508081.html
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