Indian Stock Market Update
The Indian stock market had a great day on Friday, December 12, with the Sensex and Nifty 50 indexes going up for the second day in a row. This happened because of good news from around the world, especially after the US Federal Reserve cut interest rates. The Sensex went up by 450 points (0.53%) to 85,267.66, and the Nifty 50 rose by 148 points (0.57%) to 26,046.95.
Broader Market Performance
The smaller stocks also did well, with the BSE Midcap and Smallcap indexes going up by 1.14% and 0.65%, respectively. This means the total value of all the companies listed on the BSE is now over ₹470 lakh crore, which is ₹3 lakh crore more than the day before.
What to Expect Next Week
According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market is feeling more positive now that the Nifty 50 has stayed above 26,000. He thinks the Nifty 50 could reach 26,300 if it starts the week above 26,000.
Stocks to Buy
Sumeet Bagadia has recommended three stocks to buy on Monday, December 15. These are:
- IDBI Bank: Buy at ₹99.6, target price ₹107, stop loss ₹96.5
- SMC Global Securities: Buy at ₹84.3, target price ₹90, stop loss ₹81
- Hardwyn India: Buy at ₹17.95, target price ₹19.5, stop loss ₹17.1
Remember, these are just recommendations from one analyst, and you should always check with certified experts before making any investment decisions.
This article is for educational purposes only and provides information on Indian stock market trends, stock market analysis, and investment strategies. It highlights the importance of stock-specific approach and technical chart analysis in making informed investment decisions.