Top Diwali Picks: The Stocks Analysts Are Betting On For Samvat 2076

Here’s a list of top Diwali stock picks by brokerages...

Yash Upadhyaya @iYashUpadhyaya

27 Oct 2019, 11:42 AM IST

The BSE building is illuminated during a special holiday trading session on the occasion of Diwali in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

The Samvat 2075 has been a volatile year as concerns over a slowing economy, weak earnings growth and global trade war dented sentiment.

Though the benchmark Nifty held out against the headwinds after the index, led by polarisation, bounced back on surprise corporate tax rate cuts, the correction in the broader market was quite severe. The 50-stock gauge rose 10 percent so far in Samvat 2075 and trades at a 16 percent premium to its 10-year average. The Nifty Midcap and Smallcap indices, on the other hand, dropped nearly 8 percent and 12 percent, respectively, during the period.

Still, analysts remain optimistic for the next Samvat 2076 as they expect the measures announced by the government, including the rollback of surcharge for foreign investors and corporate tax rate cut, to enthuse investors.

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