The Indian equity market is witnessing renewed optimism as the Nifty 50 index continues to gain upward momentum, signaling strong investor confidence amid global market stability. According to recent market commentary, brokerage and research house Nuvama Institutional Equities has highlighted ONGC, Graphite India, and SAIL as top stocks to watch for October 30.
Positive Sentiment Across the Market
After a phase of consolidation, the Nifty 50 has begun showing signs of sustained strength, led by energy, metals, and PSU sectors. Market experts believe that investor sentiment is improving due to steady domestic demand, moderate inflation trends, and supportive policy outlook.
Nuvama’s latest analysis suggests that select mid- and large-cap stocks could deliver solid returns in the short to medium term, particularly in sectors benefiting from commodity price recovery and infrastructure spending.
Top Stock Picks by Nuvama
1. ONGC (Oil and Natural Gas Corporation)
With global crude prices stabilizing and domestic production improving, ONGC remains well-positioned for growth. Analysts expect steady earnings supported by better realization and strong cash flows from the energy segment.
2. Graphite India
The stock is gaining attention due to rising industrial demand and recovery in global electrode prices. Nuvama sees potential for margin expansion and operational efficiency, making Graphite India an attractive pick within the industrial materials space.
3. SAIL (Steel Authority of India Limited)
As infrastructure projects accelerate, steel demand is expected to rise sharply. SAIL’s strategic expansion and improved capacity utilization could enhance profitability, aligning with India’s ongoing infrastructure growth plans.
Outlook Ahead
With festive demand and positive economic data supporting market momentum, analysts expect the Nifty 50 to maintain its bullish undertone in the coming sessions. Investors, however, are advised to monitor global cues and policy developments that could influence short-term volatility.
As Nuvama’s recommendations highlight, the energy and metal sectors remain key drivers of the market’s next leg of growth, making selective buying a prudent strategy for investors.
FAQs
1. Why is Nuvama bullish on ONGC, Graphite India, and SAIL?
These stocks are positioned to benefit from stable commodity prices, industrial recovery, and infrastructure-led demand growth.
2. What is the current sentiment on Nifty 50?
Market momentum is positive, with strong sectoral participation and supportive domestic fundamentals.
3. Should investors enter now or wait for a dip?
Experts suggest gradual accumulation on corrections, focusing on quality stocks within energy and metal segments.
4. Which sectors are leading the rally?
Energy, metals, and PSU sectors are driving the Nifty 50’s upward movement.
5. How could global trends affect Indian markets?
Global crude prices, U.S. interest rate signals, and China’s industrial data could influence near-term market volatility.
Published on : 30th October
Published by : SMITA
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed
https://play.google.com/store/apps/details?id=com.vizzve_micro_seva&pcampaignid=web_share