Diwali 2023 Stock Picks: Reliance, HDFC Bank, ZEE among top 10 buys from Geojit Financial Services
general elections in India would be one of the key triggers for the markets. Also Read: Diwali 2023 Stock Picks: Reliance, GAIL, Dr Reddy’s among top 10 buys from HDFC Securities However, analysts are bullish on the domestic markets given the resilient macros of the Indian economy. “The market is likely to witness a major rally before the next Samvat.
Once there is some clarity on the outcome of the next general elections due before May 2024, markets will rally. The resilient Indian economy and good corporate earnings will attract big investment into the market," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. He believes if the US bond yields continue to decline, the foreign institutional investors (FIIs) will also become buyers in the domestic market.
“The bull case scenario is a flood of institutional money - both domestic and foreign - and a stable government triggering a big rally in the market taking the Nifty beyond 23,000 by next Samvat. Large caps across sectors will lead the rally," said Vijayakumar. Also Read: Diwali 2023 Stock Picks: Motilal Oswal lists Titan, M&M, among 8 other fundamental picks for this festive season According to him, the likely outperformers are financials, capital goods and automobiles, while the midcap IT stocks will continue outperforming the largecaps in the sector.
Here are Diwali stock picks by Geojit Financial Services: Reliance Industries exhibited resilience amid energy market fluctuations. Going ahead, its retail business, Jio and entertainment will be pivotal catalysts for future growth. Additionally, the company’s robust cash flows and proactive pursuit of new opportunities, particularly in clean energy, contribute to a promising long-term
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