Indian Stock Market Today: The Indian stock market has shown positive movement with the Nifty 50 index closing at 24,319.35, up by 0.63%. However, the Bank Nifty dropped by 0.5%, ending at 55,370.05. The overall market sentiment remained positive, driven by strong performances in the IT and Auto sectors, with mid and small-cap stocks rising as well.
Global markets are seeing an uptick in sentiment, aided by easing US-China trade tensions and rallies in US tech stocks. The positive global cues, along with favorable Q4 earnings from Indian IT companies, have provided a boost to the Indian markets. However, profit-booking in the financial sector could create some short-term volatility.
Here are some recommended stocks to watch:
1. AU Small Finance Bank Ltd – Buy at ₹665.45, target ₹710, with a stop-loss at ₹640.
2. Home First Finance Company India Ltd – Buy at ₹1301.1, target ₹1380, with a stop-loss at ₹1250.
3. Bajaj Finance Ltd – Buy at ₹9320, target ₹9600, with a stop-loss at ₹9150.
4. Canara Bank – Buy at ₹99, target ₹105, with a stop-loss at ₹95.
5. Punjab National Bank – Buy at ₹103, target ₹108, with a stop-loss at ₹97.
6. Maruti Suzuki India Ltd – Buy at ₹11,907, target ₹12,500, with a stop-loss at ₹11,700.
7. GlaxoSmithKline Pharmaceuticals Ltd – Buy at ₹2846, target ₹3000, with a stop-loss at ₹2790.
8. Godrej Consumer Products Ltd – Buy at ₹1268, target ₹1330, with a stop-loss at ₹1240.
These stocks have shown favorable technical patterns and could offer growth potential in the short term.
Disclaimer: The views and recommendations given in this article are those of individual analysts. Always consult with certified experts before making any investment decisions.
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