May Investment Spotlight: Nirmal Bang Recommends Epigral Stocks and Suryoday SFB – A Deep Dive into Their Financial Potential

• The Indian stock market saw a 1.24% rise in April, driven by strong local fund buying.
• Initial Q4FY24 quarterly results are mixed, with FMCG, IT, and cement showing weaker numbers, while banks and chemical companies remain stable.
• Market volatility is expected in the near term due to the upcoming General Election outcome in June.

Amid mixed Q4FY24 results and upcoming General Election, the Indian stock market is expected to remain range-bound, with Nifty predicted to trade between 22,000-23,000 for the May Series.

Stock Market Performance and Predictions

The Indian stock market saw a rise in April, driven by strong local fund buying. However, the initial Q4FY24 results are mixed, with FMCG, IT, and cement showing weaker numbers, while banks and chemical companies remain stable. The market is also looking at the General Election outcome expected in June’s first week, which may cause volatility in the near term. Despite these factors, Nirmal Bang expects the market to remain in a range, with Nifty predicted to trade between 22,000-23,000 for the May Series.

Stock Picks for May