Reliance Securities predicts market corrections post-election rallies, focus on underperforming sectors for gains

From Business Today: 2024-07-15 22:01:48

Reliance Securities predicts time-wise corrections in key stock indices post-election rallies. State and US elections will impact various sectors. Long-term capital gains tax changes and other tweaks may trigger market reaction but Nifty could hit 26,000 by December 2024. Analysts foresee higher railway investments in Budget with potential for defence and export push.

Reliance Securities anticipates increased allocations in railways and power for infrastructure orders. Opportunities seen in roads, airports, seaports, waterways, and logistics. Sectors like railways and defence may see corrections post recent rally due to high valuations. Focus could shift to underperforming sectors for catch up gains in coming months.

Key sectors like defence, railways, and EMS trade at high valuations. Predictions of price correction as market focus shifts to underperforming sectors. Reliance Securities identifies seven stocks with potential for earnings growth and alpha returns in record high market before Union Budget 2024. Stocks include Larsen & Toubro, SRF, AU Small Finance Bank, Tata Technologies, Devyani International, The Ramco Cements, and ZEE Entertainment Enterprises.



Read more at Business Today: What’s ahead for defence, railway stocks as valuations hit new highs? Nifty target & more