Indian stock market: Indian equity benchmarks Sensex and Nifty 50 closed higher for the second straight session on Friday, December 12, buoyed by positive global sentiment following the US Federal Reserve’s rate cut. The Sensex advanced 450 points, or 0.53%, to settle at 85,267.66, while the Nifty 50 climbed 148 points, or 0.57%, to 26,046.95. Broader markets also performed well, with the BSE Midcap and Smallcap indices rising 1.14% and 0.65%, respectively.
As a result, the total market capitalisation of BSE-listed companies increased to over ₹470 lakh crore from ₹466.6 lakh crore in the previous session, adding more than ₹3 lakh crore to investor wealth in a single day.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market sentiment has improved as the Nifty 50 index sustained above 26,000 levels after breaking above this psychological level.
“The 50-stock index is all set to touch 26,300 if it opens above 26,000 levels in Monday. 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, December 15. The three stock picks by Bagadia are - IDBI Bank, SMC Global Securities, and Hardwyn India.
1] IDBI Bank: Buy at ₹99.6 | Target Price: ₹107 | Stop Loss: ₹96.5
2] SMC Global Securities: Buy at ₹84.3 | Target Price: ₹90 | Stop Loss: ₹81
3] Hardwyn India: Buy at ₹17.95 | Target Price: ₹19.5 | Stop Loss: ₹17.1
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.
