Indian stock market: The Indian stock market witnessed strong buying interest on Friday, October 10, as benchmark indices — the Sensex and Nifty 50 — extended their rally for the second straight session despite mixed global cues.
The Sensex advanced 329 points, or 0.40 per cent, to end at 82,500.82, while the Nifty 50 climbed 104 points, or 0.41 per cent, to close at 25,285.35. The gains were broad-based, with the BSE Midcap and Smallcap indices rising 0.36 per cent and 0.59 per cent, respectively.
The total market capitalisation of companies listed on the BSE increased to nearly ₹462 lakh crore from ₹460 lakh crore in the previous session, adding around ₹2 lakh crore to investors’ wealth in a single day.
Market benchmarks gained for the second straight session amid optimism that India and the US may be close to finalizing a trade agreement.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that Indian stock market sentiment is positive as the Nifty 50 index has broken above 25,300 hurdle on a closing basis.
“The 50- stock index is set to touch 25,800 in the near term, provided it decisively breaks above the immediate hurdle placed at 25,550,” said Bagadia.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, October 13. The three stock picks by Bagadia are – South Indian Bank, Bang Overseas, and Sagility.
1] South Indian Bank: Buy at ₹34.25 | Target Price: ₹37 | Stop Loss: ₹33
2] Bang Overseas: Buy at ₹59.28 | Target Price: ₹64 | Stop Loss: ₹57
3] Sagility: Buy at ₹46.37 | Target Price: ₹50 | Stop Loss: ₹44.9
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.
