The Indian stock market concluded Friday's trading session with minimal movement, as investors adopted a cautious stance ahead of key economic data releases. Profit booking at elevated price levels and mixed global cues contributed to the subdued sentiment, leaving the benchmark indices largely unchanged.
Benchmark Indices Show Marginal Decline
The trading day on Friday, November 28, saw the Sensex slipping 14 points, or 0.02%, to settle at 85,706.67. Similarly, the Nifty 50 index declined by 13 points, or 0.05%, closing at 26,202.95. The broader market indices also witnessed minor corrections, with the BSE Midcap index edging down 0.04% and the Smallcap index falling 0.13%.
Weekly Performance and Market Outlook
Despite the flat closing on Friday, the benchmark indices recorded gains for the third consecutive week, advancing by approximately 0.5% over the weekly period. This indicates an underlying positive trend despite short-term consolidation.
Sumeet Bagadia, Executive Director at Choice Broking, maintains a positive outlook on the Indian stock market. He believes the sentiment remains bullish as long as the Nifty 50 index sustains above the 26,000 level.
"The 50-stock index had formed a strong base in the 25,800-25,750 band and was poised to reach 26,500," stated Bagadia. "Upon breaking above this level on a closing basis, we can expect the key benchmark index to reach the 27,200 level soon. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart."
Stocks to Buy on Monday
Sumeet Bagadia has recommended three stocks for purchase on Monday, December 1, providing specific entry points, target prices, and stop-loss levels for traders.
Generic Engineerng Constn and Prjcts
- Buy at: ₹44.89
- Target Price: ₹48.1
- Stop Loss: ₹43.3
Indowind Energy Limited
- Buy at: ₹17.93
- Target Price: ₹19.5
- Stop Loss: ₹17.3
Medico Remedies
- Buy at: ₹52.11
- Target Price: ₹56
- Stop Loss: ₹50
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.
