New Delhi. The domestic equity market has seen a sharp decline in the last one month. Heavy selling by foreign institutional investors (FIIs) in the stock market and rising geopolitical tensions have put pressure on the market. Data shows that about 2,800 stocks have been corrected since September 24, 2024. During this period, the BSE Sensex fell by about 4,850 points or 5.7% to 80,065. At the same time, the BSE Midcap and Smallcap indices also declined by 7% and 6.66% respectively.

Kamdhenu Ventures suffered the most during this period of decline, its stock fell by 64%. Its price fell from Rs 57.39 on September 24 to Rs 20.59 on October 24. After this, shares of Hercules Hoists (62.50% decline), SRU Steels (58.4%), Vini Overseas (54.2%), and LS Industries (53.9%) also witnessed a big decline.

Other stocks also saw a huge decline.
According to the data, Sharma East India Hospitals and Medical Research, Vasudhagama Enterprises, Rosell India, APT Packaging, Silph Technologies, Walson Industries, Innovates Entertainment Networks, Starlit Power Systems, Unifinge Capital India, and GACM Technologies also saw a decline of 40%-50%. Opportunity to invest in correction If you are thinking of investing in this fall, then Ravi Singh, Senior Vice President of retail Research at Religare Broking, advises you to focus on banking and financials, infrastructure, and IT sectors.

The market will remain in a limited range for now.
Satish Menon, Executive Director, of Geojit Financial Services, said, “The market is currently in a consolidation phase, due to sluggish domestic income and the shift of FII funds to other emerging markets. In the near to medium term, the market may remain in a limited range, with a possibility of volatility of about 5%.”

Diwali Picks by JM Financial
JM Financial has suggested some special investment picks for this Diwali, in which it expects good returns in the next 6-12 months. These include Reliance Industries (target price: Rs 3,500), Power Grid Corporation of India (target price: Rs 383), Bajaj Finance (target price: Rs 8,552), ICICI Lombard General Insurance (target price: Rs 2,450), Jindal Steel & Power (target price: Rs 1,150), National Aluminium Company (target price: Rs 264), Gravita India (target price: Rs 3,068), Microtech Developers (target price: Rs 1,480), Olectra Greentech (target price: Rs 2,200) and Ashoka Buildcon (target price: Rs 290).