Key Points
Nifty may hit a target of 22,584 in the next 12 months even as the market manoeuvres through headwinds like US interest rates, El Nino's impact on crops and inflation, volatile crude prices and the election year in India, Prabhudas Lilladher said in a note on Wednesday..
The brokerage remains positive on auto, banks, capital goods, hospitals, and discretionary consumption and picks Max Healthcare, Hindalco Industries, Eris Lifesciences and Sunteck Realty as its conviction buys...
The 50-stock index has remained flattish in the past 6 weeks and given just 1.6% return in the quarter gone by, riding on inflows of the domestic institutional investors (DIIs) even as the foreign institutional investors (FIIs) preferred selling the domestic equities, the note said.. Markets have been taking all headwinds in their stride and the action has been very stock specific with the mid and smallcap counters continuing their outperformance over the largecaps..
Sectoral rotation has allowed realty, metals, power and healthcare stocks to join the party.. 1) With festival season witnessing high single-digit growth in sales of 2W/PV, 40-50% growth for online platforms, robust sales of jewellery despite high prices and economic boost coming from cricket world cup, the demand trends in December will remain critical..
In FY23, there was sharp deterioration in demand, post Diwali, Prabhudas said.. 2) Capex recovery is on track with strong performance from capital Goods and infra segments and strong outlook while banks' balance sheets remain healthy.. 3) 2024 general election is the mother of all elections..
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