1 week ago
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Indian stock markets NSE and BSE will conduct their annual Muhurat Trading on Friday between 6 pm and 7 pm. The hour-long session will be preceded by a 15-minute pre-opening session at 5:45 pm-6:00 pm.
This tradition of executing trades during the auspicious session is based on planetary positions, as it is considered favourable to start new business activities in the glow of diyas and amidst the vibrant colours of rangoli patterns.
Historically, investors have seen positive returns, with the BSE Sensex closing higher in 13 of the last 17 special sessions.
Amit Goel, Group CEO at MarketsMojo, underscored the importance of Muhurat Day. The day marks the start of the new Samvat and is seen to be an auspicious time for investments, blessed by Goddess Lakshmi, the deity of wealth, he said.
"For those investing with a long-term perspective, this day is ideal for beginning a journey towards sustainable wealth creation. We recommend focusing on sectors that promise enduring relevance over the next two decades — these include sectors like technology, healthcare, renewable energy, and infrastructure, each likely to drive significant value in a fast-evolving economy," Goel said.
For investors interested in shorter- to medium-term gains, consumer goods and consumer durables stocks could lead to stronger gains, Goel opined.
Nifty has witnessed a sizable correction of nearly 8–9 % in the last four weeks and the price correction is not over yet, Angel One said in a note. "In between we may see some rebounds or sideways consolidation, but the possibility of one more corrective leg is very much on the cards. As far as levels are concerned, 24,500/24,750/24,950 are to be treated as strong hurdles whereas on the flipside, 23,700 followed by 23,500 (200-DSMA) are the levels to watch out for. If globally things worsen, 22,400 – 22,000 levels can also be retested," it said in a note.
On Thursday, Indian headline indices closed in the red, registering their second successive decline. They were dragged by IT, FMCG and bank stocks. While Nifty finished at 24,205.35, going down by 135.50 points or 0.56%, the 30-stock S&P BSE Sensex settled at 79,389.06, lower by 553.12 points or 0.69%.
ETMarkets has collated 3 stocks each from large, mid and smallcap space for investors this Diwali with a view till next Diwali:
Largecap stocks to buy
1) Buy Varun Beverages at 605-580 | Target: Rs 750 | SL: Rs 530 | Upside: 29%
The stock has been in a secular uptrend and is finding a constant support at 50-WMA. It is witnessing a consolidation and can be accumulated in the recommended range.
(Nilesh Jain, Head Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking)
2) Buy BHEL at Rs 230-220 | Target: Rs 295 | SL: 198 | Upside: 34%
BHEL has now experienced three consecutive months of profit-taking and is currently hovering around the 20- EMA on the monthly chart and the 89-EMA on the weekly chart. Considering the broader chart structure, BHEL appears attractive for accumulation from a medium-term perspective.
(Angel One)
3) Buy Zomato at Rs 251 | Target Price Rs 320 | Upside: Rs 27%
Zomato has been able to turnaround its food delivery and quick commerce business without losing focus on growth. The segment is seeing turbo growth and it has also turned contribution positive. Both food delivery and quick commerce segments have a long runway for growth.
(Dalal & Broacha)
Midcap stocks to buy
1) Buy AU Small Finance Bank: Rs 639 | Target: Rs 800 | Upside: 25%
With AUSFB calibrating growth and prioritising profitability, we expect the bank to deliver RoA of 1.6% in FY25E. The bank has also applied for a universal banking licence.
(Axis Securities)
2) Buy HDFC AMC at Rs 4,385-4,580 | Target: 5,500 | Upside: 24%
HDFC AMC is among the largest and profitable mutual funds with an QAAUM of Rs 7.68 lakh crore as on September 2024. Market share as on Q2FY25 was at 11.5%. A strong distribution network with 255 branches and over 90,000 empanelled distribution partners aids business growth.
(ICICI Direct)
3) Buy Escorts Kubota on Rs 3,815 | Target: Rs 4,408 | Upside: 15%
Large diversified product portfolio, widespread distribution network, favourable base and reasonable valuation make it a top buy for SBI Securities. Key risks, however, delayed recovery in the industry and slowdown in exports remain key risks.
(SBI Securities)
Smallcap stocks to buy
1) Buy Snowman Logistics at Rs 64-60 | Target: Rs 91 | SL: Rs 47 | Upside: 38%
Snowman Logistics looks to have reversed its prior primary downtrend, indicated by a breakout above a falling trendline and a breakout from a double-bottom formation on weekly charts. The reversal of trend is further supported by the formation of higher highs and higher lows.
(Angel One)
2) Buy PCBL at Rs 435-470 | Target: Rs 600 | Upside: 34%
We have a positive view on PCBL and assign ‘buy’ rating amid profitable organic growth at its base carbon black business, turnaround in sight at Aquapharm and big opportunity in sight in Nano Silica. We expect Sales/PAT at PCBL to grow at a CAGR of 21%/27% over FY24-27E.
(ICICI Direct)
3) Buy PSB at Rs 50-51 | Target: Rs 65-67 | SL: 46 | Upside: 31%
Punjab & Sind Bank has demonstrated a strong rebound after forming a double bottom pattern on the daily chart. It presents an attractive opportunity for both short-term and long-term portfolio inclusion.
(Dr Ravi Singh, Senior Vice President, Retail Research at Religare Broking)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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