Which stocks to buy ahead of this Diwali?

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BSE Sensex is almost flat down 0.10% at 58,191.29 on a year-to-date (Oct 7, 2022) basis…

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...while the global index Dow Jones Industrial Average cracked nearly 20% during the same period

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However, Axis Securities PMS executive Nishit Master believes that India remains an island of stability amid the turmoil in the global markets

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Master foresees Nifty at the 18,580 mark by Diwali 2023, indicating an upside of just 7% from the current levels of 17,314 on October 7

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For sector-specific investors, he advised investors to prefer automobile, consumer discretionary (including hospitality)...

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… industrials (including defence) and banking sectors for their portfolio

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So what are Nishit Master's top picks in stocks for this Diwali?

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In the banking sector, the Portfolio Manager preferred names like ICICI Bank, Bank of Baroda and SBI in the banking sector

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In the industrial space, he prefers Bharat Dynamics, Mazagon Dock and Mishra Dhatu Nigam

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EIH, Mahindra & Mahindra (M&M), Tata Motors, and Varun Beverages are among his other top picks in the consumer or quasi-consumer themes

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"We prefer domestic growth stories in an environment, where the global growth outlook is weak," said Nishit Master

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Story by Rahul Oberoi
Designed by: Mohsin Shaikh
Produced by: Prashanti Moktan

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