"Our sense is that the markets might just settle down after the big correction that we have probably seen and a typical sectoral rotation will be at play. We have already seen pharma starting to hog the limelight. More defensives will probably come up in terms of the sectoral rotation as we consolidate over the next few days."

Dixon Technologies, and Amber Enterprises are incumbents while SYRMA SGS Technology, Kaynes Technology India and Avalon Technologies have been listed recently.

Top wearables brands such as Boat and Gizmore are making most products locally in key categories audio and smartwatch through electronics contract manufacturers such as Dixon Technologies and Optiemus Electronics, several industry executives ET spoke to have said.