The market will also observe a holiday on Friday, on the occasion of Diwali Balipratipada. Eventually, the market will open for normal trading on Monday, November 8. These holidays also mark the end of Samvat 2077.
After the spectacular returns of Samvat 2077, investors should prepare for modest returns in Samvat 2078, said analysts, adding that certain sectors and individual stocks will outperform.
“One of the best performing sectors during Samvat 2078 would be banking since there are clear signals of credit growth, which was muted last year. So, the leading private sector banks, the top 2 or 3 names in PSU banks, and the leading names in mortgage and Fintech are poised to do well,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The star performers of Samvat 2077 – Realty and Metals – will continue to be resilient since the boom in these segments appears to be multi-year stories. Accelerating digitization, globally, augurs well for IT too. All construction-related segments – cement, ceramics, paints, adhesives and electrical – stand to benefit from the construction boom.”
On Wednesday, benchmark indices slid for the second day on Wednesday ahead of the US Federal Reserve meeting outcome, in which the central bank may announce a tapering timeline.
The 30-share pack Sensex declined 257.14 points or 0.43 per cent to close at 59,771.92. The index fell nearly 600 points from the day’s high. Its broader peer NSE Nifty dropped 59.75 points or 0.33 per cent to 17,829.20.
