Stocks to buy this Samvat | Diwali Muhurat Picks 2017 |

The last Samvat was one of the most eventful years for the economy as well as the equity  markets because of two major unprecedented events namely Demonetisation and Introduction  of Goods and Services Tax (GST). Nifty initially witnessed some correction from ~8,638 levels on  Muharat Trading day to sub 7,900 levels during month of December 2016 after announcement of Demonetisation in November 2016. Since then we have witnessed an almost secular positive movement with NIFTY making a new life high of 10,179 during this period. Samvat to Samvat, Nifty has given return of 15% in 1 year.

Mid-caps and Small Caps have outperformed with gains of 17% and 22% respectively. Nifty achieved a new peak during the year helped by outperformance of financial services index (36% weight in NIFTY) which increased 24% from last Samvat. IT Services, the third largest sector with a weight of 11% continued its underperformance and increased by 6.7% during the same period.


India continues to remain a popular investment destination and is an overweight in most global portfolios. However, over the past one year, it has underperformed other Asian indices like Hang Seng (up 24%) and Nikkei (up 19%). Indian Equity markets are waiting for revival of corporate earnings after a very flattish performance over the last 4-5 years. Sub par performance on corporate earnings front coupled with rally in equity markets have taken the valuation to almost all time highs in India. There is a fundamental transition underway in the economy with several first time steps taken during the last one year.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.