As India awaits the final election results on June 4, exit polls predict a big win for the Modi government, bringing optimism to the market.
The NDA is expected to win 370 seats based on the average of all exit polls, which should positively impact the markets. Motilal Oswal believes this win bodes well for the economy and markets, as a stable government ensures consistent policies.
Recent political uncertainty caused market volatility in April and May 2024. With a clear election outcome, markets can relax and focus on fundamentals again. Motilal Oswal’s model portfolio is aligned with key domestic cyclical themes, highlighting earnings growth. The brokerage favors financials, consumption, industrials, real estate, consumer discretionary, and PSU banks.
Here are Motilal Oswal’s top stock picks:
Large Cap Stocks:
- ICICI Bank
- SBI
- L&T
- Coal India
- M&M
- Adani Ports
- ABB
- HPCL
- Hindalco
Mid Cap Stocks:
- Indian Hotels
- Godrej Properties
- Global Health
- KEI Industries
- PNB Housing
- Cello World
- Kirloskar Oil
Motilal Oswal notes that India is in a favorable position with strong economic indicators, solid corporate earnings, a focus on manufacturing and infrastructure, and reasonable valuations. The election verdict, if it leads to political stability, will further boost market confidence.
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