According to experts, the stock market will remain limited in the coming times, but it will be a better opportunity to invest in stocks of good quality. Which can give good returns in the long term.
Invest in these stocks
The BSE Sensex (BSE Sensex) and the Nifty 50 (Nifty50) index of the Indian stock market closed in April 2021 with a negative note. Domestic stock market plunged by 2.50 per cent in April due to rising cases of COVID-19 and steps such as lockdown to prevent infection. The challenges of the second wave of COVID-19 appear to be real, which could severely impact the economy in the coming quarters.
Experts believe that given the strength in commodity prices and the improvement in the global situation, there is no possibility of any major fall in the Nifty 50 in the near term. In the coming time, the stock market will be limited. In such a situation, investors will have a better chance to invest in good quality stocks. Which can give good returns in the long term.
Metal and pharma index shows rapid growth
Last month, the Nifty Metal index rose 21 percent, while the Nifty Pharma index rose 10 percent. The Nifty commodities index also recorded an increase of 5 per cent, while most other sectors saw a decline. Axis Securities maintains the Nifty 50 index at 16,100 for December 2021.
Invest in these stocks
Axis Securities has advised to buy private sector big bank ICICI Bank (ICICI Bank) with a target of 720 rupees. At the same time, brokerage house Motilal Oswal has given a target of Rs 750, while recommending the purchase in the stock. ICICI Bank has produced excellent results in the March quarter. During this period, the bank’s profit increased by 260 per cent to Rs 4,402.61 crore. The bank has outperformed in every segment in retail, SME and corporate portfolios. Core operating performance was also strong. In this, you can get returns up to 22 percent.
HDFC Securities has advised to invest in IIFL Finance with a target of Rs 319. It can get up to 30 percent return from the current price. The company reported a profit of Rs 248 crore in the March quarter. The company had a loss of Rs 59 crore in the same quarter last year.
(note: Here is the information based on the report of the brokerage house. Given the risk of the market, take the opinion of the expert before investing)
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