Samvat 2076 was volatile for equities as the coronavirus pandemic disrupted the world economy.
Indian benchmarks joined their global peers in the worst selloff in more than a decade, tumbling 40% from the peak in January to their March-low, after the nation imposed one of the world's harshest lockdowns. But they have since erased losses.
The Nifty 50 has risen 9.56% so far in Samvat 2076. The Nifty Midcap 100 and Nifty Smallcap 100 indices have gained 12.47% and 7.07%, respectively, during the period. The Nifty 500 is up 9.67%.
The mood turned upbeat after fiscal and monetary stimulus announced by the government and central bank. A faster-than-expected pickup in economic activities on easing lockdown curbs and the reports around a potential Covid-19 vaccine lifted the sentiment further.
The optimism will spill into the new Samvat 2077 as analysts bet on surplus liquidity in the market, a rebound in high-frequency indicators and encouraging demand environment.
Selection Criteria
- Top two stocks based on the highest 12-month return potential.
- Recommended by at least 10 brokerages.
Here's a list of top Diwali stock picks by brokerages...
Motilal Oswal On Dabur, Crompton Greaves Consumer Electricals
ICICI Direct On Ramco Cements, Zydus Wellness
Yes Securities On KPR Mill, Redington India
IDBI Capital On Alembic Pharma, Johnson Control Hitachi AC India
Kotak Securities On Ambuja Cements, Hindustan Zinc
Axis Securities On Dalmia Bharat, Varun Beverages
KRChoksey On TV18 Broadcast, CreditAccess Grameen
Reliance Securities On Castrol India, Kalpataru Power
SBICAP Securities On AstraZeneca Pharma India & Timken India
JM Financial On Federal Bank, Intellect Design Arena
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