Stocks to buy: Consider stocks that beat analysts’ estimates, 5 stocks with up to 35.7% upside potential
Nifty 50, to rank among the worst performing global markets (after France and South Korea), between 27 September 2024 and 5 December 2024, according to data sourced from Reuters-Refinitiv for 22 global indices. The global indices cover the US, Europe, Asia, Russia and Latin America.
Moreover, despite recovery in the first week of December, the last 10 weeks performance has also dragged the year-to-date performance of the Indian equity benchmark. The index was ranked second among the 22 global indices (after the Nasdaq Composite) based on returns between 29 December 2023 and 26 September 2024 (the day the Nifty 50 closed at its all-time high). However, after including the performance since the last week of September, the Nifty 50 has dragged to rank 11 in year-to-date performance.
The Nifty 50 has delivered -5.6% returns in the last 10 weeks (since 27 September 2024) and 13.7% returns year-to-date. The returns and rankings are based on 5 December 2024 closing values.
Geopolitical factors, elevated valuations in mid and small caps, strengthening of the US dollar index and substantial FPI outflows have intensified volatility. In addition, the poor performance of corporate India in the September quarter has contributed to the recent market correction. A weak ness in urban demand in FMCG and automobiles, asset quality stress in some segments of BFSI, muted government spending and excess rainfall are some factors that have led to earnings moderation in the September quarter. Nifty 50 companies reported a 4%
