The Indian stock market closed higher for the second day in a row on Friday, led by buying in metal stocks and positive global cues. This comes after the US Federal Reserve cut interest rates by 25 basis points.
The 30-share BSE Sensex rose 449.53 points, or 0.53%, to settle at 85,267.66. The 50-share NSE Nifty surged 148.40 points, or 0.57%, to settle at 26,046.95.
Despite the gains, foreign portfolio investors (FPIs) pulled out ₹17,955 crore from Indian equities in the first two weeks of this month, taking the total outflow to ₹1.6 lakh crore in 2025. Market experts attribute this to the sharp depreciation of the rupee and rich Indian valuations.
The rupee depreciation continued, with the domestic currency hitting an all-time low of 90.49 against the US dollar. The delay in the India-US trade deal and sustained foreign outflows are expected to weigh on the domestic unit.
According to Aakash Shah, Research Analyst at Choice Broking, the Sensex is expected to have a steady start on Monday, with pre-market cues indicating a mildly cautious but stable opening. He added that low volatility and improving risk appetite may help the index find its footing quickly.
Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty has moved back above 26,000 after a brief period of weakness. He expects the trend to remain constructive as long as the index holds above 25,900, which is expected to serve as a key support level.
Market experts recommend the following eight intraday stocks: Vedanta, Ashok Leyland, Jubilant Food, ITC, TCS, Paytm, Eternal, and Waaree Energy.
Sumeet Bagadia recommends a buy call on Vedanta at ₹543, with a stop loss at ₹524 and a target price of ₹581. He says the stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum.
Bagadia also recommends buying Ashok Leyland at ₹164, with a stop loss at ₹158 and a target price of ₹176. He says the stock is in a strong upward trend, supported by steady buying interest and sustained higher price action.
Ganesh Dongre recommends buying Jubilant Food at ₹583 for a target price of ₹610 and a stop loss of ₹570. He says the stock has exhibited a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum.
Dongre also has a buy call on ITC shares at ₹400 for a target price of ₹410 and a stop loss of ₹395. He says the stock has exhibited a strong, notable, continuous bullish pattern, offering another promising opportunity for short-term traders.
Dongre recommends buying TCS at ₹3220 with a stop loss at ₹3160 and a target price of ₹3300. He says the stock has exhibited a strong, notable, continuous bullish pattern, offering another promising opportunity for short-term traders.
Shiju Koothupalakkal has a target price of ₹1370 on Paytm and a stop loss of ₹1280. He says the stock has maintained a positive trend with a series of higher bottom formation patterns visible on the daily chart.
Koothupalakkal has a buy call on Eternal at ₹298 for a target price of ₹320 and a stop loss of ₹291. He says the stock has indicated a significant pullback, with a positive candle formation on the daily chart, and improving bias signals further rise in the coming days.
Investors can buy Waaree Energy at ₹2980 for a target price of ₹3100 and a stop loss of ₹2930. Koothupalakkal says the stock has stabilized and consolidated near the 2840 zone, taking support, and has indicated a positive candle formation on the daily chart.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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