Rahul Sharma, a director at JM Financial Services, has positive news about the stock market. He believes it’s a good time to buy stocks after a little drop, and that we might see the Nifty index reach 24,800 points soon. The Nifty has recently crossed 24,500 points, which is a good sign.
After gaining around 500-600 points in a few days, the market is now seeing some corrections—a slight drop is normal after such rises. Sharma suggests that during this dip, investors should consider buying stocks. He points out that bank stocks, especially private banks like ICICI and HDFC, are currently looking strong and likely to lead the market in the next week or two.
Even though today saw some corrections, blue-chip stocks like Infosys, Reliance, and TCS are driving the market higher. Sharma predicts the Bank Nifty could hit 54,000-54,500 in the near future, and the Fin Nifty could reach 25,000-25,200.
When it comes to private vs. public sector banks, Sharma favors private banks for quick gains. However, he sees potential in public banks too for long-term investments.
Sharma also recommends several stocks related to financial markets like CDSL, BSE, and Angel One. CDSL and BSE have done well recently, but he advises booking profits in those, while Angel One may continue to rise.
For pharmaceutical stocks, Divi’s Laboratories is performing well, and he suggests buying it around ₹6,000 with hopes it could rise to ₹6,500.
Finally, Sharma suggests investing in companies that could benefit from increased spending on infrastructure, like Larsen & Toubro and NTPC, which could provide a return over the next three months as the country’s economy improves.
