Diwali Muhurat trading: Samvat 2082 tested investors’ patience as Nifty 50 and Sensex saw sharp corrections. But historically, such sharp corrections set the base for the market rally and next phase of wealth creation, according to Monarch Networth Capital.
For Samvat 2083, 8th Pay Commission and Banking, Financial Services, and Insurance (BFSI) are likely to remain as key themes for investors to track. Additionally, the brokerage released the list of Diwali stock picks for Samvat 2083 which includes Aster DM Quality Care, Bharat Electronics, Bharti Airtel, Blue Star, Carborundum Universal, CCL Products (India), HDFC AMC, Indegene, Pricol, State Bank of India, TBO Tek, Vedanta Aluminium Metal, and VA Tech Wabag.
Potential approval of 8th Pay Commission in the financial year 2027-28 (FY 28) is likely to put more money in the hands of over 2 crore employees and pensioners and boost consumption.
“Past commissions saw the extra income flow towards automobiles, travel and tourism, premium beverages and consumer durables, and we expect a similar pattern. The premiumization theme could benefit these consumption and discretionary pockets,” read the Monarch report.
Credit and deposit growth are both above 15% and asset quality remained at multi-year best, in the BFSI segment, highlighted the brokerage in its report.