Indian stock market: The Indian stock market finished largely unchanged on Friday, November 28. Profit booking at higher levels and caution ahead of the Q2 GDP release kept sentiment subdued, and mixed global signals did little to lift the mood.
The Sensex slipped 14 points (0.02%) to close at 85,706.67, while the Nifty 50 ended 13 points lower (0.05%) at 26,202.95. The BSE Midcap index edged down 0.04%, and the Smallcap index fell 0.13%.
The benchmark indices posted gains for the third week in a row, climbing by roughly 0.5% over the week.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market sentiment is positive until the Nifty 50 index is sustaining above 26,000.
“The 50-stock index had formed a strong base in the 25,800-25,750 band and was poised to reach 26,500. Upon breaking above this level on a closing basis, we can expect the key benchmark index to reach the 27,200 level soon. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart,” said Bagadia.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, December 1. The three stock picks by Bagadia are – Generic Engineerng Constn and Prjcts, Indowind Energy Limited, and Medico Remedies.
1] Generic Engineerng Constn and Prjcts: Buy at ₹44.89 | Target Price: ₹48.1 | Stop Loss: ₹43.3
2] Indowind Energy Limited: Buy at ₹17.93 | Target Price: ₹19.5 | Stop Loss: ₹17.3
3] Medico Remedies: Buy at ₹52.11 | Target Price: ₹56 | Stop Loss: ₹50
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.
