# Sector cycles shift every 2-3 years; IT, FMCG cheap 2026-08-13T23:10:10+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Data from Bandhan Contra Fund's NFO presentation, tracking sector performance from 2017 to 2026, shows market leadership shifts rapidly. Media was out of favour for nearly eight consecutive years, the longest stretch, while realty, metals, power and pharma frequently topped the list. PSU banks made a sharp comeback after 2020 but fell out of favour again by 2026. Mayank Jain of Share.Market by PhonePe said no sector holds a top-five position for more than 2-3 straight years, arguing against buy-and-hold sector bets. Tanvi Kanchan of Anand Rathi added that an out-of-favour sector without a visible earnings catalyst is a 'value trap'. In 2026, IT and FMCG trade at 33.6% and 22.8% below their five-year average P/E, making them attractive on valuation, though both face headwinds: IT from weak Western discretionary spending and FMCG from domestic challenges. Metals, trading 64.6% above its average, is a sector to avoid. ## Coverage - livemint.com Tags: FMCG, IT sector, market cycles, PSU banks, sectoral funds, value investing Canonical: https://indianopinion.org/sector-cycles-shift-every-2-3-years-it-fmcg-cheap/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/sector-cycles-shift-every-2-3-years-it-fmcg-cheap/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.