Investors reaped benefits with markets touching record highs in Samvat 2077, helped by easy liquidity, strong economic recovery and corporate earnings.
The NSE Nifty 50 has risen over 41% from last Diwali so far. The S&P BSE Sensex has also gained around 40% during the period. That's the biggest surge in a Samvat since 2008-09.
The highlight, according to Sharekhan, has been the performance of the broader market, with the Nifty Midcap 100 surging 84.7% during the period.
As Samvat 2078 nears, there are near-term challenges like rising energy and commodity prices reflecting on second-quarter earnings. And high valuations. Yet, brokerages are optimistic as the coronavirus caseload has fallen and more than 100 crore Indians have received the first dose of the vaccine. Analysts now see a multi-year capex upcycle, led by government policies. Their suggestion: it’s the right time for investing in quality stocks and buying the dip.
Selection criteria
Top two stocks recommended by brokerages based on the highest 12-month return potential.
Here’s a list of top Diwali stock picks by brokerages for Samvat 2078:
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