Top Stock Picks For Diwali And Samvat 2077: Brokerages

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

BQ Desk @bqprime

13 Nov 2020, 09:43 AM IST

A customer looks at strings of light-emitting diodes (LED) at an electronics store in the Dadar market area of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

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