International brokerage JPMorgan has released its latest 'Global Strategy' report highlighting five sectors it remains overweight on, with 30 stocks part of these sectors. The firm upgraded its rating on the industrials sector from 'Neutral' to 'Overweight', driven by strong government-backed infrastructure spending and electrification demand. According to JPMorgan's analysis, the government is reaccelerating infrastructure capex and advancing asset monetisation, keeping the award pipeline healthy. The cycle is broadening beyond traditional infrastructure into data centers, electronics, energy storage and grid upgrades, benefiting HV equipment, construction conglomerates, cables & wires and the broader capital goods space.
In the financials sector, JPMorgan has named ICICI Bank, State Bank of India (SBI), Axis Bank, AU Small Finance Bank, Bajaj Finance, HDFC AMC, Max Financial and SBI Life as part of its overweight portfolio. The brokerage remains bullish on Vedanta, Hindalco, JSW Steel and Pidilite Industries, with materials and IT sectors having the most positive earnings revisions for calendar year 2026. However, JPMorgan warned that FY27 earnings are likely to face pressure from higher input prices and currency depreciation after the prolonged closure of the Strait of Hormuz, adding that the Nifty 50 index could fall to 20,500 in its bear-case scenario.
The hospitals sector has shown strong performance with JPMorgan remaining 'Overweight' on Apollo Hospitals, Max Healthcare, and Global Health (Medanta). As reported by JPMorgan, Apollo Hospitals and Max Healthcare shares have gained nearly 5% each in the past month, while Medanta shares jumped over 15% in the same period. This sector performance aligns with the broader healthcare sector strength that analysts have been tracking.
According to reports from Business Standard, the Nifty opened gap down but witnessed a smart recovery of more than 250 points from its intraday low to close in the green. For the past seven trading sessions, Nifty has been broadly consolidating between 23,300 and 23,800. A breach of this range on either side will set the tone for the next leg, with a breakout above 23,800 potentially leading to a rise towards 24,000 which coincides with the highest concentration of open interest on the call side for the May series.
In the consumer discretionary sector, JPMorgan named Maruti Suzuki India, Mahindra & Mahindra (M&M), TVS Motor Company, Hero MotoCorp, Zomato-parent Eternal, and Vishal Mega Mart as part of its overweight portfolio. The industrials sector upgrade was driven by strong government-backed infrastructure spending and electrification demand, with EPC companies poised to benefit from Middle East reconstruction efforts following recent conflict devastation. Sectoral stocks named by JPMorgan include Larsen & Toubro (L&T), Bharat Electronics (BEL), Adani Ports, NTPC, Power Grid, CG Power, GE Vernova T&D, Hitachi Energy and Polycab.
