Equity benchmarks plunged for the third session on the trot on Friday as relentless selling by foreign funds and weakness in global markets sapped risk appetite. The BSE benchmark Sensex tumbled for the third straight session on Friday to close at 59,306.9, down 677 points. The 30-share index lost over 3.3% in three days. Similarly, the Nifty plunged 1.04% to close the session at 17,671.6.
Tech Mahindra was the biggest laggard in the Sensex pack on Friday, declining 3.53 per cent, followed by NTPC, Kotak Bank and IndusInd Bank. In contrast, UltraTech Cement, Dr Reddy’s, Maruti, Tata Steel, Titan and ICICI Bank were among the winners.
On a weekly basis, the Sensex tumbled 2.49%, while the Nifty lost 2.44%. In the broader market, the BSE midcap index ended 0.16% higher, while the small cap gauge declined 0.38%.
SGX Nifty indicates a choppy start for the Indian stock markets on Monday. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in the Singapore Stock Exchange and is taken as to be a likely first indication of the Indian markets opening.
Stocks to buy today as recommended by analysts –
Sumeet Bagadia, Executive Director at Choice Broking
Biocon: Buy biocon, Stop loss 335, Target 375-380
GMR Infra: Buy Gmrinfra, Stop loss 39, Target 42.40-44
Ravi Singhal, Vice Chairman, GCL Securities Limited
Sun Pharma: Buy sun pharma at 810, , Stop loss 788, Target 888
Manoj Dalmia, Founder and Director, Proficient Equities Limited
Tata Power: Buy Tata power at 215, Target 227, Stop loss 209
Ravi Singh, Head of Research & Vice President, ShareIndia
Adani Ent: Buy Adant Ent at 1,425, Target 1470, Stop loss 1,400
Ambuja Cement: Buy Ambuja Cement at 404, Target 412, Stop loss 400
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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