Investors Eyeing Bottom Fishing Opportunity in Indian Stock Market Ahead of Lok Sabha Election 2024
As the Indian stock market witnessed a sell-off on Dalal Street, investors are now looking for a bottom fishing opportunity ahead of the Lok Sabha election 2024. With the anticipated victory of the BJP-led NDA already priced in, medium to long-term investors are exploring potential stocks that could yield significant returns in the coming years.
Experts have identified key sectors that could benefit from a stable government post-election, including infrastructure, defence, power, renewable energy, PSU, auto, and banking stocks. Market analysts have recommended 11 stocks to buy or sell for the long term, including BEL, NTPC, NHPC, M&M, Maruti Suzuki, ONGC, HAL, ICICI Bank, Axis Bank, SBI, and Canara Bank.
Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, highlighted the importance of sectors like infrastructure, defence, power, and renewable energy in the current market scenario. He advised investors to focus on stocks such as BEL, NTPC, and NHPC for potential long-term gains.
Saurabh Jain, Vice President of Research at SMC Global Securities, emphasized the significance of government policies in driving the performance of auto, oil, power, and banking stocks. He suggested that these sectors may continue to outperform others post-election.
In the PSU segment, Sandeep Pandey, Founder of Basav Capital, recommended investing in ONGC and HAL shares. He also identified M&M and Maruti Suzuki as promising bets ahead of the Lok Sabha polls. Additionally, he advised considering State Bank of India and Canara Bank in the banking segment for potential growth opportunities.
It is important for investors to conduct thorough research and consult certified experts before making any investment decisions. The views and recommendations provided by analysts and experts are crucial in navigating the volatile stock market landscape.
