Market at 7-month low an opportunity, experts pick 17 stocks for long term

Market at 7-month low an opportunity, experts pick 17 stocks for long term

Investors should focus on the domestic economy-facing sectors like capital goods, infrastructure, real estate and banking. In the near term, they are betting on metals, IT and pharma







Sunil Shankar Matkar









March 07, 2022 / 06:14 PM IST





Surging oil prices due to the Ukraine-Russia war, inflation concerns and global growth worries spooked the markets on March 7. The benchmark indices sank to a more than seven-month low but analysts say this is a great opportunity to pick quality stocks with a long-term horizon.

Economic pressure on Russia is mounting as the US and its allies consider a ban on Russian oil and natural gas over and above the sanctions already in place.

Crude oil prices jumped to a 13-year high on this news. International benchmark Brent crude futures hit more than $139 a barrel (the highest level since 2008) in the morning and was trading at $126.30 a barrel, up 7 percent.

Also read: Between crude and the US Fed, the rupee has no escape

“If crude prices sustain at higher levels, it is likely to impact India’s current account deficit as well as fiscal deficit as India imports more than 80 percent