Meanwhile, fund managers were seen buying shares of companies, such as HDFC Life, Eicher Motors, and Page Industries - which are arguably a notch below the frontline names
The 25% tumble in the index has meant that stocks currently offer an earnings yield of about 5.25%, compared with the domestic benchmark 10-year yield of about 6.50%
While JP Morgan believes 'cash is king' given the uncertainty that lies ahead, selective buying from a long-term perspective can be done in defensive plays
Analysts expect dent in near-term profits
On Monday, the blue-chip NSE Nifty 50 index and the S&P BSE Sensex crashed 12.98% and 13.15%, respectively, their biggest plunges on record. The rupee hit a fresh record low against the dollar
The frontline indices have risen close to 15 per cent year-to-date, led by a rise in a handful of stocks
The company is confident of achieving its revenue growth guidance of 8-10 per cent and operating profit growth guidance of 16-20 per cent for FY20
Instead of trying to pick individual stocks, take the mutual fund route
After guiding for 3-5% volume growth at the beginning of FY20, the company has now revised its guidance to a marginal decline
The stock tanked to its five-year low before closing 8.7 per cent lower on Thursday
While the bank believes higher margins and lower credit costs will propel its return on assets by FY21, some analysts expect NPAs may remain elevated
The stock slumped 13.12 per cent to its 52-week low of Rs 3.31 apiece on BSE
The view may be an outlier as International money managers have sold $4.7 billion of the nation's shares since June
For Asian Paints, keep a stop at 1,600 and go long. Add to the position between 1,632-1,638. Book profits at 1,40
In perennial sectors, it may be better to focus on the best business, even if that stock is more expensive
To make money, look at large firms, banks and defensive stocks such as software exporters and utilities, they say
Even as BofAML expects India's NSE Nifty 50 Index to end 2019 at 11,300 - a 4% gain for the year - it won't be a smooth ride
Credit Suisse analysts said India might face the risk of higher de-rating in the near term
Investors will make ceremonial purchases in a one-hour trading session on Wednesday to mark Diwali, the festival of lights. Markets will be fully closed on Thursday
Some 95 per cent of India's population with net assets of $50 million or more lifted their holdings in the 12 months through October