Stocks to buy: As the Indian stock market is facing challenges from the domestic and global developments, a smart investor would look a this stock market crash as an opportunity for the bottom fishing. As the selling has taken place across segments and sectors, a smart choice may generate whopping returns beating the indices and other peers. To answer this tricky choice, stock market experts said that the oil and gas, banking, and IT sector looks promising from a valuation perspective and one should look at finding a value pick from these segments. However, they said that some steam is still left in the PSU segment.
Segments with higher potential
Asked about the segment or sectors that may outperform the index return over the period, Manish Chowdhury, Head of Research at StoxBox said, “We like stocks in the oil & gas and banking segment as we find valuation comfort in these segments with multiple numbers of near-term tailwinds.” The StoxBox expert said that some steam is still left in the PSUs segment saying, “All PSU stocks should not be looked at with the same glass as selective opportunities still exist in this segment. But, one should enter PSU basket in a staggered manner and have a medium to long term horizon in the space.”
Batting in favour of the IT segment, Saurabh Jain, Vice President — Research at SMC Global Securities said, “The US economy has shown some resilience in the last few quarters and it is getting reflected into the deal wins by the Indian IT companies. This rise in the rate of deal wins by Indian IT companies is now expected to be reflected in the balance sheet of the Indian IT companies. So, the current stock market crash should be seen as an opportunity by the long-term investors. However, I would advise them to look at the large-cap IT stocks as they are expected to win a majority of the deals in the US and the European markets.”
Shares to buy on Monday
On shares to buy today for long term for the long term, Sandeep Pandey, Founder of Basav Capital said, “In PSU banking segment, long-term investors may look at buying SBI, Canara Bank and Bank of Baroda shares whereas in the private bank segment buying ICICI Bank and Axis Bank could be a good move in the falling Indian stock market. In the oil and gas segment, buying ONGC share price looks attractive at current level.”
Sandeep Pandey of Basav Capital advised long-term investors to buy Hindustan Aeronautics Ltd or HAL share price if they want to invest in a PSU stock.
IT shares to buy for long-term
Sharing a list of IT stocks for the Indian stock market investors, Saurabh Jain of SMC Global Securities said, “One should look at buying TCS, HCL Tech, and Wirpo shares in this stock market crash.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making anyinvestment decisions.
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