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Going forward, as we enter the festive season, we expect domestic demand recovery to continue and propel discretionary consumption in India after a pandemic-induced hiatus of two years. That said, given the multiple moving parts (rates, currency, bonds, and geopolitics), we expect volatility to remain elevated but directionally, we believe, trends will get better.

Vinod Nair, Head of Research, Geojit Financial Services, who is negative on metals, oil, reality and infra, said, "Investors need to keep an eye on hyperinflation, global recession, hawkish monetary policy leading to a rise in interest rates and war crisis."

Meanwhile, soaring U.S. bond yields are pressuring valuations and complicating the picture for tech and other growth stocks, whose expected future earnings are discounted steeply by higher yields. Yields continued to rise this week, with the yield on the benchmark 10-year Treasury note hitting a fresh 14-year high.

Investing is forward looking. There are a number of ways to interpret current trends that provide a fairly positive outlook for investing, depending on the type of slowdown that may be coming and on your horizon as an investor. None are certain, but these narratives are spreading in the markets and, if only for that reason, they are worth considering.

"We now do not expect any negative surprises. If anything, the surprises will only be pleasant. I can confidently say that our performance will only improve from here on. We are seeing growth in both corporate as well as retail loans and our provisions are also among the highest in the industry, so we are very well placed," Sharma said.

This Diwali, brokerages have selected some of the promising stocks as their top picks which on technical parameters have the strength and potential to yield decent returns in the next one-year time frame.

" Whatever teams are leading now around the world -- mental health is crucial. This was huge before the pandemic, but even more important now. First, we must create cohesive, inclusive environments and communities."

According to reports, over the last 20 years (March 2001-2020), Nifty has given 15.23% CAGR returns, whereas gold has given 12.52%, while FDs have given 7.1% average returns. Equity offers immense opportunities to invest and increase the value of your investment. Investors can diversify their investments with minimum investment and own shares in small, mid, and large companies or buying index funds that help them buy all companies through a single fund.

" For Yes Bank, the near-term support of Rs 15 is looking strong and maintaining above the significant 50 EMA level of Rs 15.90 would imply a further upward move for short-term targets of Rs 18-19 levels. Further, if a decisive breakout occurs, then one can anticipate fresh further upside moves."

The oil-to-retail-to-telecom conglomerate reported a ₹15,512 crore net profit in the quarter, almost unchanged from ₹15,479 a year earlier and down 20% from ₹19,443 crore in the June quarter.