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PSU bank stocks have soared during Modi's second term, with Indian Overseas Bank leading at 472% returns. Despite this, they trade at a discount, making them potential outperformers. CLSA identifies SBI, Canara Bank, and Bank of Baroda as Modi stocks poised for growth.
In November, when Nifty 50 gave over 5% returns, 334 smallcap stocks registered double-digit returns.
The overall market capitalisation of listed stocks crossed $4 trillion for the first time ever this year, with India ranking 4th in the world in terms of market capitalisation.
Zomato stood out among the pack, as the stock this year not only recouped all the losses of 2022, but more than doubled in value.
The bumper gains registered by domestic equities in 2023 saw Indias biggest bull Life Insurance Corporation of India rake in a massive profit of Rs 2.28 lakh crore in its portfolio.