Indian Stock Market Sees Second Day of Gains
The Indian stock market, including the Sensex and Nifty 50 indices, saw a second day of gains on Friday, December 12. This was driven by positive global sentiment after the US Federal Reserve cut interest rates.
Market Performance
The Sensex rose by 450 points, or 0.53%, to close at 85,267.66, while the Nifty 50 increased by 148 points, or 0.57%, to 26,046.95. The BSE Midcap and Smallcap indices also performed well, rising by 1.14% and 0.65%, respectively.
The total market capitalization of BSE-listed companies grew to over ₹470 lakh crore, adding more than ₹3 lakh crore to investor wealth in a single day.
Breakout Stock Recommendations
According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market sentiment has improved, with the Nifty 50 index sustaining above the 26,000 level. He recommends a stock-specific approach and suggests looking at breakout stocks for investment opportunities.
Top Stocks to Buy
Sumeet Bagadia recommends the following five stocks to buy:
- Indo Borax and Chemicals: Buy at ₹274, target ₹295, stop loss ₹264
- Atlanta Electricals: Buy at ₹925, target ₹990, stop loss ₹890
- Zota Health Care: Buy at ₹1670, target ₹1800, stop loss ₹1600
- CCL Products (India): Buy at ₹1025, target ₹1100, stop loss ₹988
- Senores Pharmaceuticals: Buy at ₹786, target ₹850, stop loss ₹760
Please note that these recommendations are for educational purposes only, and investors should consult certified experts before making any investment decisions.