2 weeks Ago
Diwali 2024 Stock Picks: The Indian stock market is currently in a correction phase amid weak global cues. The domestic equity benchmarks Nifty 50, and Sensex logged their longest weekly losing run in 14 months, intensifying a broad-based selloff. Foreign investors continued to offload, and lacklustre corporate earnings further bogged down the sentiment, compelling indices to enter the bear market just a few days ahead of Diwali and the onset of Samvat 2081.
However, the market created history in Samvat 2080 by achieving several milestones in the last 12 months. The Nifty 50 surpassed 26,250 and the BSE Sensex surpassed 85,900 in September 2024, with both indexes gaining around 25 per cent during Samvat 2080. After a 19.
8 per cent earnings growth in FY24, analysts expect the Nifty 50 index's net profits to grow by 6.7 per cent in FY25 and 17.3 per cent in FY26.
At 24,700 level, the Nifty 50 index trades at 23.7x FY25E and 20.2x FY26E.
FY25 will likely witness more broad-based growth across sectors. Nifty earnings growth will likely remain steady at ~a 12 per cent CAGR over FY24-26. For Samvat 2081, D-Street expects sectors linked to domestic structural and cyclical themes to do well.
Analysts are positive in sectors such as financials, consumption, industrials, technology, and healthcare. In the current market scenario, domestic brokerage firm FundsIndia Broking has released its top six Diwali 2024 stock picks for Samvat 2081. The brokerage has selected the quality stocks which are expected to do well in the next 12 months, based on technical and fundamental parameters.
Diwali 2024 Stock Picks by FundsIndia Broking Let's take a look at the top six technical and fundamental stocks for Diwali by brokerage FundsIndia Broking: 1.Kalyan Jewellers: Buy Price: ₹ 676.
