Indian stock market: The Indian stock market closed flat on Friday, September 5, as profit booking persisted amid worries over Trump’s tariffs and their economic impact, along with continued foreign capital outflows weighing on sentiment.
The Sensex and Nifty 50 opened on a positive note but were unable to sustain gains despite favorable global cues and expectations of a US Fed rate cut later this month.
The Sensex edged down by 7 points to close at 80,710.76, while the Nifty 50 gained 7 points to settle at 24,741. The BSE Midcap index dipped 0.10 per cent, whereas the Smallcap index rose slightly by 0.09 per cent.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market sentiment is positive as the Nifty 50 index closed above the 20-DEMA at 24,710.
“The key benchmark index faces a hurdle at 25,000 after making an immediate base of 24,600. On breaking above 25,000 decisively, we can expect a fresh bull trend in the Indian secondary market. So, one should look at those stocks that look strong on the technical chart pattern,” Bagadia said.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, September 8. The three stock picks by Bagadia are – Shah Alloys, Vascon Engineers Limited, and Aditya Birla Fashion and Retail.
1] Shah Alloys: Buy at ₹62.55 | Target Price: ₹67.5 | Stop Loss: ₹60.2
2] Vascon Engineers Limited: Buy at ₹56.11 | Target Price: ₹60.3 | Stop Loss: ₹54.25
3] Aditya Birla Fashion and Retail: Buy at ₹85.9 | Target Price: ₹90 | Stop Loss: ₹82.2
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.
