Indian Stock Markets Extend Losses Amid Global Uncertainty
Indian equity benchmarks concluded Tuesday's trading session in negative territory, marking their third consecutive day of decline. The market sentiment remained cautious as investors weighed mixed signals from global markets.
The Sensex dropped 314 points, or 0.37%, to finish at 84,587. Similarly, the Nifty 50 index declined by 75 points, or 0.29%, settling at 25,884.80. This persistent downward trend highlights the prevailing nervousness among market participants.
Mid and Small-Cap Stocks Defy the Trend
While the frontline indices struggled, mid and small-cap stocks demonstrated resilience and managed to outperform their larger counterparts. The BSE Midcap index edged higher by 0.19%, and the BSE Smallcap index gained 0.20%.
This performance indicates a stock-specific approach is currently rewarding investors, with money flowing into select pockets of the market even as the broader benchmarks face selling pressure.
Expert View and Breakout Stock Recommendations
Sumeet Bagadia, Executive Director at Choice Broking, shared his technical perspective on the market. He noted that the Nifty 50's slip below the 25,900 level has turned the bias cautious.
He identified a crucial support zone for the Nifty between 25,800 and 25,750. A breach below this level could see the index slide towards 25,450 to 25,400. On the higher side, 26,000 to 26,100 is acting as a strong resistance.
Given this setup, Bagadia advises investors to focus on stocks that are showing strength on technical charts. He recommends looking for breakout opportunities and has identified five such stocks for consideration on Wednesday, November 26.
Stocks to Buy Today:
- Muthoot Microfin: Buy at ₹192, target ₹206, stop loss ₹186
- Wonder Electricals: Buy at ₹178, target ₹191, stop loss ₹172
- Carraro India: Buy at ₹544, target ₹585, stop loss ₹525
- Sansera Engineering: Buy at ₹1660, target ₹1780, stop loss ₹1600
- Stylam Industries: Buy at ₹2178, target ₹2340, stop loss ₹2100
Disclaimer: This news article is intended for educational purposes only. The views and investment recommendations expressed are those of the individual analyst and not of Mint. Investors are strongly advised to consult with certified financial experts before making any investment decisions.
