Stocks to buy on 20 March: On Thursday, March 19 the primary benchmark indices, Nifty 50 and Sensex, dropped over 3%, marking their most significant decline since June 2024, primarily due to the sudden resignation of HDFC Bank’s chairman and an increase in crude oil prices following attacks on energy facilities in the Middle East.
The Nifty 50 decreased by 3.26%, closing at 23,002.15 points, while the BSE Sensex experienced a similar decline, finishing at 74,207.24.
Approximately 13 trillion rupees ($139.47 billion) in market capitalization was lost on the National Stock Exchange of India on Wednesday, with total market value losses since the conflict began reaching around $400 billion.
The Indian rupee is anticipated to drop below the 93 per dollar threshold when the domestic foreign exchange market reopens after a day off on Friday.
The significant decline was prompted by a new intensification of the conflict, raising concerns about supply interruptions and pushing Brent crude to its peak rate in more than a week.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a flat to positive start for the Indian stock market today. By 7:48 AM, the Gift Nifty was trading around 23216.5 level, a discount of 164 points from the Nifty futures’ previous close of 23,054.80.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth said that Indian equities are expected to open on a flat to mildly positive note, with early indications from Gift Nifty hovering around the 23,150 mark.
Further, Hariprasad added that while weak global cues may continue to weigh on overall sentiment, the modest decline in crude oil prices is likely to offer some near-term support, helping to stabilise markets in early trade.
“Global markets remained under pressure, with the Dow Jones Industrial Average extending losses for a second consecutive session. However, a late recovery helped trim deeper declines, indicating that markets are attempting to stabilize after recent volatility. The key driver behind the shift in sentiment has been the movement in crude oil prices,” said Hariprasad.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares: Ipca Laboratories Ltd, Great Eastern Shipping Company Ltd, Colgate Palmolive (India) Ltd, Glenmark Pharmaceuticals Ltd, and Power Finance Corporation Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Best stocks to buy today (all buy trades are rates of equity and sell rates are based on F&O)
Ipca Laboratories Ltd: Buy above ₹1,550, stop ₹1,500 target ₹1680 (Multiday)
Ipca Laboratories Ltd (current market price – ₹1,544.40) – Buy above ₹1,550, stop ₹1,500 target ₹1,680 (Multiday)
Why it’s recommended: Ipca Laboratories Ltd. is a major, integrated Indian pharmaceutical company, manufacturing over 350 formulations and 80+ active pharmaceutical ingredients (APIs) across various therapeutic segments. Pharma sector is now witnessing fresh demand as there is continued attention to all companies that have corrected sharply. In the current year the stock has seen a steady upside despite the market sentiment and the steady support offered by the KS line has ensured that the momentum is retained, we can consider that the trends are poised to move higher. Go long.
52-week high: ₹1,273.80,
Technical analysis: Support at ₹1,475, resistance at ₹1,725.
Risk factors: Intense competition leading to margin pressure, asset quality concerns in specific portfolios, and regulatory changes.
Target price: ₹1,680. (2 Months)
Great Eastern Shipping Company Ltd: Buy above ₹1,445, stop ₹1,380 target ₹1,540 (Multiday)
Great Eastern Shipping Company Ltd (current market price ₹1,441.30) – Buy above ₹1,445, stop ₹1,380 target ₹1,540 (Multiday)
Why it’s recommended: The Great Eastern Shipping Co. Ltd (GE Shipping), established in 1948, is India’s largest private sector shipping and oilfield services provider operating across two primary business segments: shipping and offshore. A sharp rebound from lower levels on Wednesday is hinting at higher levels to sustain. A formation of a long body candle we are once again discovering some strong trends emerging from support levels that can unfold to take the prices higher. As momentum is holding up once again consider going long.
52-week high: ₹1,374.45,
Technical analysis: Support at ₹1,225, resistance at ₹1,600.
Risk factors: Cyclicality and freight rates, geopolitical disruptions and regulatory compliance.
Target price: ₹1,540 (2 Months)
Colgate Palmolive (India) Ltd: Sell below 1,880, stop ₹1,940 target ₹1,760(Multiday)
Colgate Palmolive (India) Ltd (current market price ₹1,889.70) – Sell below ₹1,880, stop ₹1,940 target ₹1,760(Multiday)
Why it’s recommended: Colgate-Palmolive (India) Ltd (COLPAL) is the Indian subsidiary of the US-based Colgate-Palmolive Co., it manufactures and markets products including toothpaste, toothbrushes, mouthwash. A wave of selling pressure continues in multiple counters this counter attracts steady buying interest to steadily move higher. With recent range breakdown , we can look for further downside as a strong thrust below consolidation is seen yesterday. With the ADX charging higher and the negative DI also inching higher we can look at a potential decline in store.
Key metrics:
P/E Ratio: 38.73
Technical analysis: Support at ₹1,700, resistance at ₹1,975.
Risk factors: Intense competition in the toothpaste market, a slowdown in urban demand, and high valuation pressures.
Target price: ₹1,760. (2 Months)
Two stock recommendations by MarketSmith India
Buy: Glenmark Pharmaceuticals Limited (current price: ₹2,183)
· Why it’s recommended: Strong presence in generics and specialty pharma, focus on innovation and R&D pipeline, growing dermatology and respiratory portfolio, expansion in regulated markets (US, EU), branded business strength in India, strategic licensing and partnerships, and improving margins from specialty shift.
· Key metrics: P/E: 25.04, 52-week high: ₹2,297.90, volume: ₹194.74 crore
· Technical analysis: Double-bottom breakout
· Risk factors: High dependence on U.S. market pricing, regulatory risks (U.S. FDA observations), earnings volatility from generics business, high R&D expenditure impacting profits, debt levels and financial leverage, competition in key therapeutic segments, pipeline uncertainty and approval delays
· Target price: ₹2,400 in two to three months
Buy: Power Finance Corporation Limited (current price: ₹432)
· Why it’s recommended: Largest NBFC in power sector financing, strong government backing (Maharatna PSU), large loan book and dominant market share, healthy ROE and consistent profit growth, improving asset quality, low NPAs, high dividend yield and regular payouts, strong growth from renewable energy financing, and key role in India’s power & infra expansion
· Key metrics: P/E:4.13, 52-week high: ₹444.10, volume: ₹644.99 crore
· Technical analysis: Reclaimed its 21-DMA
· Risk factors: High exposure to power sector concentration, dependence on state discom financial health, policy and regulatory risks, interest rate sensitivity (NBFC model), moderate
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.
