Adani Enterp. 2491.50↑46.45(1.90%)
Adani Ports 742.90↑6.30(0.86%)
Apollo Hospitals 4992.90↑25.60(0.52%)
Asian Paints 3216.70↓-20.55(-0.63%)
Axis Bank 947.55↑21.45(2.32%)
B P C L 356.40↓-3.65(-1.01%)
Bajaj Auto 4692.75↑23.65(0.51%)
Bajaj Finance 7041.00↑17.10(0.24%)
Bajaj Finserv 1459.95↑2.70(0.19%)
Bharti Airtel 839.00↑2.50(0.30%)
Britannia Inds. 4705.55↑51.40(1.10%)
Cipla 967.85↑2.00(0.21%)
Coal India 229.95↓-0.95(-0.41%)
Divi's Lab. 3470.85↓-40.75(-1.16%)
Dr Reddy's Labs 4635.00↑24.55(0.53%)
Eicher Motors 3704.40↑5.00(0.14%)
Grasim Inds 1734.00↑23.45(1.37%)
H D F C 2659.30↑13.40(0.51%)
HCL Technologies 1143.00↑5.95(0.52%)
HDFC Bank 1614.50↑8.00(0.50%)
HDFC Life Insur. 576.50↑0.10(0.02%)
Hero Motocorp 2888.05↓-4.60(-0.16%)
Hind. Unilever 2702.55↓-14.15(-0.52%)
Hindalco Inds. 419.85↓-0.90(-0.21%)
ICICI Bank 948.50↑10.35(1.10%)
IndusInd Bank 1295.00↑6.80(0.53%)
Infosys 1307.05↑8.05(0.62%)
ITC 443.15↓-0.25(-0.06%)
JSW Steel 705.95↓-0.65(-0.09%)
Kotak Mah. Bank 1946.50↑7.75(0.40%)
Larsen & Toubro 2260.90↑26.35(1.18%)
M & M 1387.00↑45.60(3.40%)
Maruti Suzuki 9624.00↑138.65(1.46%)
Nestle India 21900.05↓-146.40(-0.66%)
NTPC 175.25↑0.70(0.40%)
O N G C 154.55↓-0.15(-0.10%)
Power Grid Corpn 237.05↑2.45(1.04%)
Reliance Industr 2465.50↑10.30(0.42%)
SBI Life Insuran 1211.70↑9.20(0.77%)
St Bk of India 588.75↑1.55(0.26%)
Sun Pharma.Inds. 1011.70↑12.10(1.21%)
Tata Consumer 796.65↑0.60(0.08%)
Tata Motors 544.65↑8.75(1.63%)
Tata Steel 108.40↑0.40(0.37%)
TCS 3313.95↑8.35(0.25%)
Tech Mahindra 1113.60↓-9.50(-0.85%)
Titan Company 2852.95↓-8.70(-0.30%)
UltraTech Cem. 7906.75↑56.10(0.71%)
UPL 686.35↑3.00(0.44%)
Wipro 405.00↑0.05(0.01%)

Indian markets have limited upside in the near-term; buy the dips: Nomura

Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort

Puneet Wadhwa New Delhi

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3 min read Last Updated : Jun 05 2023 | 10:17 AM IST

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Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India.

He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a ‘buy on dips’ strategy to equity investors.

As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.

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