Indian stock market: Indian benchmark indices, Sensex and Nifty 50, edged higher on Thursday, tracking positive trends from global markets.
On August 14, the equity indices closed with modest gains, with the Nifty finishing above the 24,600 mark. The Sensex rose 57.75 points, or 0.07%, to settle at 80,597.66, while the Nifty added 11.95 points, or 0.05%, to close at 24,631.30.
In contrast, broader markets came under selling pressure as both mid- and small-cap stocks declined. The NSE Mid-cap index slipped 0.3%, while the Small-cap index dropped 0.4%.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that Indian stock market sentiment has improved after the relief rallies in two successive sessions on Thursday and Friday last week.
“The Nifty 50 index is facing resistance at 24,650. On breaking above this level on a closing basis, we can another 100 points rally in the 50-stock index. The key benchmark index is in a tight range of 24,300 to 24,650, while the broader range is 24,000 to 24,800. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart,” Bagadia said.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, August 4. The three stock picks by Bagadia are - GMR Airports, Niva Bupa Health Insurance Company, and Ola Electric Mobility.
1] GMR Airports: Buy at ₹90.77 | Target Price: ₹97.12 | Stop Loss: ₹87.59
2] Niva Bupa Health Insurance Company: Buy at ₹81.93 | Target Price: ₹87.66 | Stop Loss: ₹79
3] Ola Electric Mobility: Buy at ₹41.31 | Target Price: ₹44.2 | Stop Loss: ₹39.86
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
