The local equities market has been in the correction phase for quite some time now, as the benchmark Straits Times Index slid more than 11.2 percent after hitting a historical high of 3615.28 in May this year. While some may see this as an opportunity for bargain purchases, others are fearful that this may just be the beginning of a more devastating decline that is yet to come. Since there is no way to ascertain if we are near the market bottom, adding on to positions of well-run companies in the defensive sectors could therefore be a sensible approach in times like this. Defensive businesses offer products and services which are needed by consumers all year round and hence their share prices are less likely to be affected during downturns. SI Research identified three stocks in the waste