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Lok Sabha Elections 2024: After the sell-off on Dalal Street, Indian stock market investors must be looking for bottom fishing opportunities. For these value investors, the 2024 Lok Sabha elections are one of the most important factors and they are analyzing all possible stocks that can generate huge returns in the medium to long term. According to experts, following the pre-election survey results, the Indian stock market has already priced in the anticipated victory of the BJP-led NDA in the upcoming Lok Sabha elections. However, they predicted that after the recent sell-off, medium to long-term investors could look at infrastructure, defence, oil, power and renewables, PSU, auto and banking stocks.
As for stocks to buy for the long term ahead of the 2024 Lok Sabha elections, market experts have listed 11 stocks to buy or sell: BEL, NTPC, NHPC, M&M, Maruti Suzuki, ONGC, Hindustan Aeronautics Ltd or HAL , ICICI Bank, Axis Bank. , State Bank of India (SBI) and Canara Bank.
Sectors in focus
Speaking about the segments containing value picks ahead of the Lok Sabha elections, Amit Goel, co-founder and chief global strategist, Pace 360, said, “The market may have already priced in the NDA’s early victory, which could limit the upside of stocks. “After the elections. However, certain sectors will benefit from a stable government: infrastructure, defense, energy and renewables.”
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Advising stock market investors to look into the PSU, banking and automobile segments, Saurabh Jain, vice president of research at SMC Global Securities, said, “Government policies are expected to continue if the Lok Sabha election results are synchronized with the results prior to the elections. “In that scenario, auto, oil and energy stocks, and banks can continue to outperform other segments.”
Stocks to buy for the long term
On stocks to buy with the 2024 Lok Sabha elections in focus, Pace 360’s Amit Goel said, “We advise investors to look at stocks like Bharat Electronics Ltd (BEL), NTPC and NHPC.”
On stocks to buy for the long term ahead of the Lok Sabha elections, Sandeep Pandey, founder of Basav Capital, said: “The Indian government has been able to keep inflation under control and after the peak of the high interest rate regime, The Reserve Bank of India (RBI) may announce the timeline for interest rate cut after the US Fed meeting. In that case, banks are expected to have more money for business credit and after the Lok Sabha elections, infrastructure projects are expected to gain momentum. In that case, Indian banks with strong CASA are expected to produce strong quarterly numbers. Therefore, State Bank of can be bought India and Canara Bank in the PSU banking segment, while one can consider buying shares of SBI and Axis Bank in the private banking segment.”
Apart from banks in the PSU segment, Basav Capital’s Sandeep Pandey said, “One can consider buying shares of ONGC and HAL.” Sandeep Pandey said shares of Mahindra & Mahindra (M&M) and Maruti Suzuki India Ltd (MSIL) also look promising bets ahead of the Lok Sabha polls.
Disclaimer: The opinions and recommendations above are those of individual analysts, experts and brokerage firms, not those of Mint. We advise investors to consult certified experts before making any investment decisions.
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Posted: Mar 23, 2024, 12:10 pm IST