HSBC’s Top 15 Stock Picks Amid Short-Term Uncertainty
It said the long-term story remains intact despite slowdown narrative which may weigh on market performance in the near term.
Global and domestic factors are only short-term worries and the long-term story remains intact for Indian stocks, according to HSBC.
Foreign inflows have moderated ahead of Prime Minister Narendra Modi’s government’s maiden budget in the second term, amid a global slowdown and trade war escalation, Amit Sachdeva, India equity strategist of HSBC India, said in a report. And this narrative may weigh on market performance in the near term, he said.
Foreign investors, who remained net buyers in May, funneling nearly $1.13 billion, turned net sellers in June, according to data available with National Securities Depository Limited. They sold equities worth Rs 1,064 crore between June 1 and June 24.
The benchmark indices have been range-bound as markets await the budget to be presented on July 5. HSBC compiled a list of 15 stocks that offer a balanced risk-reward potential.
Here’s the list:
