Indian Stock Market Ends Flat After Volatile Session
The Indian stock market concluded a fluctuating trading day on Friday with minimal changes, as key indices displayed resilience despite facing headwinds. The Sensex experienced a slight decline of 94.73 points, or 0.11%, settling at 83,216.28. Meanwhile, the Nifty 50 edged lower by 17.40 points, or 0.07%, finishing just under the significant 25,500 mark at 25,492.30.
Key Factors Influencing Market Sentiment
Market experts attributed this stable but tepid outcome to a cocktail of opposing forces. Foreign Institutional Investors (FIIs) continued their selling spree, creating downward pressure. However, this was counterbalanced by cautious support from Domestic Institutional Investors (DIIs), which helped cushion the fall. The trading atmosphere was further dampened by lackluster global indicators, particularly a noticeable weakening in technology and artificial intelligence stocks within the US markets.
Profit-taking emerged as a dominant theme, especially in the financials and real estate sectors, where investors locked in gains. On a positive note, the metals sector demonstrated notable resilience, providing a crucial layer of stability to the broader indexes and preventing a steeper decline.
Market Outlook and Expert Stock Recommendations
According to Sumeet Bagadia, Executive Director at Choice Broking, the market sentiment has shown improvement. He notes that the Nifty 50 index staged a strong rebound after approaching its 50-day Exponential Moving Average (DEMA) support, positioned at 25,320. For a more definitive positive shift in bias on Dalal Street, Bagadia emphasizes that the index must convincingly break above the 25,750 level. A successful breach of this barrier could set the stage for the index to aim for short-term targets of 26,100 and 26,500.
For traders looking at opportunities on Monday, Sumeet Bagadia has recommended three stocks to consider:
ICICI Bank Ltd
Action: Buy in Cash at the current level of ₹1,343. Maintain a stop loss at ₹1,300, with a target price of ₹1,440. The stock is showing early recovery signs after a corrective phase and has found support near the ₹1,315–1,320 zone.
Mahindra & Mahindra Ltd (M&M)
Action: Buy in Cash at ₹3,690. Place a stop loss at ₹3,555, aiming for a target of ₹4,000. M&M has witnessed a strong rebound and is showing a pattern indicative of a continuing uptrend.
Bharat Electronics Ltd (BEL)
Action: Buy in Cash at ₹414. Use a stop loss of ₹399, with a target price of ₹444. BEL is displaying renewed strength and is trading comfortably above its key moving averages, signaling underlying bullish momentum.
Disclaimer: The views and recommendations presented are those of individual analysts and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
