In line with strong global trends, buying in auto, banking and energy stocks led the benchmark indices Sensex and Nifty to rise for the second consecutive day on Friday. The BSE Sensex closed at 52,727.9 with a gain of 462. Nifty closed 0.9% higher at 15,699.
Both the indices posted a weekly gain of 2.7%. Nifty and Sensex fell for two consecutive weeks on concerns of central bank aggression amid rising inflation.
The broader markets, barring IT, outperformed, all other sectoral indices ended in the green. The BSE Smallcap gauge rose 1.6% and the Midcap index rose 1.5%.
for day trading guide stock market today
The short term trend of Nifty remains positive. After holding on to significant overhead resistance at 15800 levels, another minor downside correction from highs around 15,800-15,900 is likely by next week before a decisive upside breakout is visible,” said Nagraj Shetty, Technical Research Said Analyst, HDFC Securities.
“Indian markets have seen some correction from their lows last week on the back of fall in crude oil prices and in-line commentary by the US Fed. However, concerns of a global slowdown, monetary tightening and rupee depreciation limited the upside. Siddharth Khemka, Head of Retail Research, Motilal Oswal said, “We expect the market to remain volatile next week and Nifty will approach a strong resistance around 16,000.
stocks to buy today As recommended by analysts –
Rajesh Bhosale, Technical Analyst, Angel One Limited
Suntec Realty: Buy Suntec, Stop Loss 470, target 504
Indian Hotels: Buy Indotel, Stop Loss 220, target 239
Mehul Kothari, AVP – Technical Research at Anand Rathi
Tata Motors: Buy Tata Motors, Stop Loss 399, target 428
Strides Pharma: Buy Star, Stop Loss 330, target 368
Sumeet Bagdia, Executive Director, Choice Broking
Motherson Sumi : Buy MotherSumi, Stop Loss 115, target 130-135
NMDC: Buy NMDC, Stop Loss 101, target 115-118
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.