Money spinners: 11 stocks you can buy when market corrects
Sat, Sep 14, 2013 at 11:56
The 30-share BSE benchmark gained another 463 points this week on top of a 1035 points rally in previous week, supported largely by inflow of foreign money. That pushed the rupee 180 paise up this week as against 46 paise last week. The rally was largely led by Rajan effect, easing of tensions in Syria and strong Chinese economic data.
After 1500 points rally in last two weeks, the market is looking for more triggers globally and locally to get direction on either side. There are two events lined up next week- FOMC on September 17-18, which is the major event as far as the globe is concerned. Any news on Fed tapering from Ben Bernanke will be closely watched because experts feel the Fed may reduce USD 85 billion monthly bond buying purchases by USD 5-15 billion. The second event is the RBI policy scheduled on September 20. It will be the first policy from new RBI governor Raghuram Rajan.
Experts feel the market is likely to remain rangebound and cautious next week.
So, here are 11 stocks recommended by Sharekhan that you can buy in this uncertain market. The firm believes that the current shopping list with these stocks’ composition is well structured to perform during corrections as well as bounce-backs.