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Tech, Banking Names Are Among Hottest India Stock Picks for 2022

  • Real estate also preferred by brokerages on housing demand
  • Analysts see Nifty 50 Index climbing 15% in the next 12 months
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WATCH: Jefferies analyst Mahesh Nandurkar estimates India’s GDP and earnings to grow at more than 7% and 15% in fiscal year 2023, respectively.Source: Bloomberg

The sustained boom in global tech spending, a revival of local housing demand and a rebound in bank earnings are expected to be among the key drivers of gains for India’s stock market this year.

Analysts remain bullish, projecting a rise of about 15% for the NSE Nifty 50 Index over the next 12 months, according to sell-side estimates compiled by Bloomberg. That’s on top of the gauge’s 138% rally from its March 2020 low, the best performance among the world’s major equity markets for this period.