The celebrations for Dussehra 2024 (Vijayadashami) are around the corner and stock market investors are gearing up to seize the opportunities available for investment. It is believed that making investments during the period of Dussehra brings in good luck and helps in creating wealth for the long term.
Last year individuals who put money in the stocks in the Automobile sector managed to make relatively safe returns. The rally in the India stock market is still continuing and the market direction is still positive. Hence, it is highly likely that the Auto sector and the Jewellery sector stocks will be on a growth path as well.
Dussehra 2024: A Review Of The High Performing Automobile Sector
Especially in this Dussehra 2024 (Vijayadashami), the attention towards the automobile stocks will rise as a result of the Hyundai Motor IPO. IPO frenzy has started in the Indian bourses. Hence the market is expecting a good listing gain from the Hyundai IPO that might also uplift the performance of the entire automobile industry.
Other Auto stocks like Tata Motors, Mahindra and Mahindra have also shown significant price surge and technical chart structure also looks positive. Moreover, in the coming weeks or so, the auto sales are also expected to benefit from Diwali 2024 festival. Auto companies will give heavy discounts in Diwali which will have a positive effect in the sales and profits.
Do you think jewellery shares will experience a rise during the upcoming Dussehra in 2024?
The attention towards the Jeweller stocks would be great in Dussehra 2024 as well. As per the tradition in India, buying Gold Jewellery during the Navratri, Dussehra and Diwali is considered to be a good omen. In this light, stocks of companies like Titan, Kalyan Jewellers, Rajesh Export will be in play this month. There is an indication that the sales will go up and thus an increase in the profits is probable. This will in most cases translate to the share price of Jewellery stocks.
Dussehra 2024: Paint Stocks – Do They Have Growth Potential?
The sales growth of paints companies always peaks during the festive seasons. With the commencement of the Dussehra 2024, the market for paint stocks might also gain realism. Paint stocks of firms like Asian Paints, Berger paints may gain momentum and may level up during the short term. In the period of one month, paint stocks may rise, therefore, position traders and long-term investors are encouraged to wait to enter these paint stocks.
Conclusion
Dussehra (Vijayadashami) 2024 would be a great occasion that people will observe throughout India. Most of the stock market followers tend to look forward for making investments while the time of celebrations since the period is regarded as favorable for long term wealth creation. It is anticipated that during Dussehra 2024, the sectors such as Automobile, Jewellery and Paints may do well and provide a decent growth in the near term.