The S&P BSE Sensex topped Mount 37K for the first time in history to hit a record high of 37,014, while the Nifty rose to a fresh record high of 11,172 in the first one hour of the trading session.
The S&P BSE Sensex rallied by about 8 percent so far in the year 2018 while the Nifty gained 6 percent in the same period. Experts advise investors to stay with companies, which are looking fundamentally robust and are showing strong signs of growth.
They further say that earnings will play a big role in pushing the market to new frontiers but stock specific action will continue. Sectors expected to hog the limelight include IT, pharma, consumer discretionary, and private banking.
“Nifty and Sensex are at all-time high levels, but one is not sensing the exuberance or excitement across participants as the rally has been primarily led by heavyweights such as TCS, Reliance Industries etc,” said Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas.
“We feel that from here on earnings will play a major role in determining further upside. Factors such as global trade wars and upcoming general elections in India will keep investors cautious in the short term,” he said.
Jani further added that the longer-term picture for Indian equities looks positive and we continue to prefer sectors such as private banking, consumer discretionary, Information technology and Pharma.
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Source:https://www.moneycontrol.com/news/business/markets/sensex37k-top-10-stocks-to-buy-which-could-give-up-to-30-return-in-1-year-2764441.html
