New Delhi, July 12 -- The consumer discretionary sector is likely to show mixed signals and is expected to grow at a rate of 18 per cent on a year-on-year basis due to a combination of both positive and negative factors, as per a report by HDFC Securities.

Consumer discretionary refers to goods and services that consumers consider non-essential but desirable if their income allows. In other words, this means that the products and services within this sector are not considered vital for survival or daily living, but rather things that consumers desire when they have enough disposable income to spend.

According to the report, the discretionary universe is expected to face a tailwind from new age businesses, which are expected to grow at a...