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Top 5 ASX
Shares to Buy Now
For Capital Growth in 2024

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ASX Shares

In 1987, the Australian Stock Exchange Limited was formed after the Australian Parliament enabled the merger of six independent state-based exchanges for ASX stocks. Each of these exchanges had brought extensive industry experience that dates back to early ASX trading in the 19th century.

By 2006, the Australian Stock Exchange was joined by the Sydney Futures Exchange to become the new ASX: Australian Securities Exchange. The official name is now ASX Limited and to date, the share market index for ASX stocks is now one of the world’s top 10 listed exchange groups by market capitalisation.

The ASX 100 represents the country’s large and mid cap stocks ASX offers, and is Australia’s premier large capitalisation equity index. The index offers a benchmark for each ASX investor whose focus is to build a portfolio for ASX shares with strong liquidity. 

The hardest part when it comes to finding ASX growth stocks is the ability to understand the finer details of both old and new companies on ASX — their valuations, first mover advantage, assets, and other factors at hand — to make an informed decision.

Our research team has handpicked the 5 best ASX stocks which we believe have growth potential or are undervalued. These stocks represent some of the best value the ASX shares has to offer for 2024.

Shares In Value - Top 5 ASX Stocks to Buy - Cover 2024

Download this ASX shares report and receive

  • Top 5 ASX stocks for capital growth for 2024
  • New companies on ASX with unique technology & first mover advantage.
  • Strong forecasted growth for 2024 & beyond.
  • Management with deep knowledge of the ASX stocks industry
  • Good growth potential and a great story

What Is An ASX Stock?

ASX stocks are investments that represent ownership share in a company. Generally, an ASX investor purchases stocks that will potentially go up in value over time. However, to have a balanced hand, knowing the types of different ASX shares can help you build a strong portfolio.

The ASX trading market offers different stocks to investors, and the price of these ASX shares is determined by supply and demand. Some people buy ASX stocks for capital growth (i.e. to sell them at a higher price in the future as ASX growth stocks), while others buy them for income (i.e. to receive profit from dividend shares).

There are a variety of different ASX stocks that investors can purchase, and each stock represents a different company or index. When choosing which new ASX shares to purchase, investors must carefully consider the risks and potential rewards of each stock.

we do our

HomeWork

Our growth and value stock ASX picks goes through our 4-point background check

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Production
Growth

Production growth is critical to sustain earnings growth even during times of flat commodity pricing. With favourable prices for ASX shares such as now, sky's the limit.

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Commodity Outlook

Factors influencing commodity prices now and in the future. Our research team dives deep into the supply and demand data for the best ASX stocks.

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Strong Balance Sheet

Balance sheets are anchors, and their worth has been proved during the pandemic. They provide the leverage that new ASX companies require to grow.

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Economic
Moat

A distinct advantage a company has over its competitors, which allows it to protect the market share and profitability of its ASX shares.

How Does The ASX Work?

The market for ASX shares is an integrated exchange offering trading, listing, clearing, settlement, technical and information services, technology, data, and other post-trade services. Currently, there are more than 2,200 companies listed, and new companies on ASX are regularly added.

When investors trade ASX stocks, the Australian Securities Exchange serves as a market operator and oversees compliance. It operates a wide range of asset markets, including energy, income, fixed income, and equities. The business is structured around four divisions: Markets, Listings, Technology and Data, and Securities and Payments.

An Initial Public Offering (IPO) is the process wherein a company raises equity capital through opening its shares to the public for the first time. Investors may access these new ASX shares directly or through a broker. By investing in the right upcoming IPO ASX market offers, you can infiltrate a company with a high growth potential. Often, the new ASX IPO price is the cheapest as ASX new companies offer discounted rates. 

Research backed findings

Our Research Analysts at Shares In Value focus on a number of indicators while picking the best ASX shares to buy.

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Strong Balance Sheet

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Earnings Growth

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Economic MOAT

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Industry Analysis

akshay

Akshay Bhaskar

Equity Research Analyst

daiviet

Daiviet Huynh

Equity Research Analyst

asx 1200

REPORT • 2024

Top 5 ASX Shares to Buy for Capital Growth in 2024

Confidently Invest In ASX Stocks With Shares In Value

With so many options for ASX stocks, how do you navigate the ASX trading market and find out what is worth your time and money? There is an affluence of the best ASX shares that pay good returns, but some are better than others. Take your time to consider how each one fits into your portfolio before choosing the ASX shares to add.

We compile updated shortlists of some of the best ASX stocks and the current news on the ASX market to help you make an informed decision.

ASX Stocks

FAQs

The S&P/ASX 200 monitors and tracks the biggest 200 ASX shares, and is used as a reference point that measures the collective performance of the shares. Any movement in the index as an ASX upcoming IPO is introduced, is expressed in points or percentage.

These largest ASX stocks account for about 88% of Australia’s share market capitalisation, and have provided returns of 8.1% per year over the last two decades. This ASX trading index is managed by Standard & Poor’s, distinguished experts in market performance of ASX shares.

ASX growth stocks are typically associated with small, up-and-coming businesses that are experiencing rapid expansion, and are expected to continue to grow at an above-average rate in the future. The initial focus of these new ASX listings is growing their sales and market share as they establish their companies in the industry. As their share growth potential is fully realised in the ASX stocks market, these companies will then shift their focus to profits, making ASX growth stocks a profitable choice for investors looking for capital gains over time.

As of October 2023, there are 2,079 listed companies, with new companies on ASX being added regularly. These companies have chosen to list on the ASX trading market in order to raise money by selling shares to investors. If the company does well, investors can then make a profit from their investment.

Listing on the ASX shares market can be an excellent way for new ASX companies to raise capital and expand their businesses. It also provides investors with the opportunity to profit from the successes of these businesses, and their corresponding ASX stocks growth.

With effective research and guidance, you can pick the right ASX shares to add to your portfolio. See our latest ASX insights and get a dedicated account manager to guide you.

To start investing in ASX stocks, you need to set up a trading account and transfer enough funds to cover your chosen shares. You must be atleast 18 years old, and an Australian resident to sign up. Before an investor like you starts to trade ASX stocks, conduct research on the ASX shares you want to buy, and decide how much you want to purchase. You can then place your order and pay for the best ASX stocks you have selected through an ASX-licensed stockbroker. The order will be matched with a seller, and the trade will be executed at the current market price. For upcoming IPO ASX offers, these are usually at a lower cost as they are relatively new in the ASX shares market.

Now that you know how to buy shares on the ASX market, it's time to start investing! Just remember to take your time, do your research, and always consult with a financial advisor before making any investment decisions.

Investing in growth stocks ASX is a good option because of its potential for share price growth, which can lead to capital gains over time. Growth stocks tend to have higher valuations on a price-to-earnings (P/E) basis. This means that these types of ASX shares are expected to increase earnings at a faster rate than other companies. As a result, ASX growth stocks may potentially outperform the market over time.

When it comes to choosing the best ASX shares to buy, there are a number of factors to consider. If you are primarily focused on capital growth and higher returns then ASX growth stocks may be a good choice for you. See our insights on the ASX stocks market.

There are two distinguished techniques for picking the best ASX shares to buy:

1. The bottom-up analysis: An ASX investor recognises the fundamentals of the business and its competitive edge in the market.

2. Top-down investing: The strategy relies on looking at the macroenvironment, including the interest rates, inflation, fiscal policies, employment, trends, and technology. Getting a hand on both strategies is key to determining the best ASX stocks to buy right now.

The top ranking ASX stocks constantly change. And if you are looking for the best ASX shares to buy right now, subscribe to our premium stock market research service. Start expanding on your knowledge and capital on the ASX shares market!

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