Share Market: Which Sectors Will See Strong Growth This Festive & Wedding Season?

Share Market: As the festive and wedding season is approaching, some stocks will be in high demand. India’s wedding industry is the fourth largest industry in the country. According to a report by The Economist, India has about 1 crore weddings every year, on which about $130 billion is spent. In 2024 only, 42 lakh weddings have taken place between January and July, leading to a massive expense of $66 billion (Rs 5.5 lakh Cr). 

Festive Season 2024 Share Market

At this time, there is tremendous growth in consumer spending, especially during Diwali and Dashara. Whether it is jewellery, home decor, automobile or luxury hospitality, people spend heartily in this season and we can see its direct impact in the stock market as well. Nifty is the most focused sector in this season. The first sector is gold, i.e. jewelry. Recently, the government has reduced the import duty from gold to 15% and reduced it to 6%. In the coming festive season, the demand for gold is going to skyrocket. The second sector is automobile.