From HDFC Bank to Apollo Pipes: Yes Securities' recommends these top stocks to buy for July; See full list

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Nifty have both had solid starts to the month of July thanks to strong buying across all sectors and encouraging global indications. The benchmark indices settled at their record closing highs for the fourth straight session on Tuesday, continuing the domestic market's milestone-setting frenzy. With a strong infusion of foreign money and an upbeat macroeconomic outlook, the Indian market has been on the rise.

Analysts and brokerage firms are upbeat about the Indian market's prospects over the medium and long terms. Analysts claim that amid a sluggish global and a weak China, India stands out. Government investments in infrastructure, such as digital public infrastructure, and a surge in private consumption due to increased credit offtake would help the India narrative progress.

Additionally, analysts believe that companies have retained a portion of their gains due to the rapid and considerable decline in global inflation as well as the significant decline in major input prices for materials including oil, natural gas, lumber, palm oil, steel, and coal. As companies keep a portion of the advantage from lowering input prices, expanding margins and excellent results from banks and NBFCs would boost Sensex earnings. 2023 will be a successful year for Indian equities because valuations aren't high at 16x FY25 EPS.

Based on the strong fundamental Amar Ambani, Head of Institutional Equities at Yes Securities, has recommended top five stocks to purchase in July. Here's the list; HDFC Bank Ltd - According to Amar, after the merger with HDFC Ltd, the bank intends to cross sell all products to all group customers post the merger. Bank is aggressively adding branches (~1500 branches p.a.) and this shall help them significantly