The domestic benchmark indices of the Indian stock market, Sensex and Nifty 50, are anticipated to have a lower opening on Thursday following the imposition of a 25% tariff on Indian products by US President Donald Trump.
The indications from Gift Nifty suggest a gap-down opening for the Indian benchmark index. Gift Nifty was observed trading at approximately 24,673, which is around 196 points below the previous close of Nifty futures.
On Wednesday, the Indian stock market closed on a positive note, with the Nifty 50 finishing above the 24,800 mark.
The Sensex saw an increase of 143.91 points, or 0.18%, closing at 81,481.86, while the Nifty 50 rose by 33.95 points, or 0.14%, to settle at 24,855.05.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautious as the Nifty 50 index is facing hurdle at 24,900. After announcement of Trump’s tariffs, the mood is expected to remain cautious. If the Nifty 50 sustains above its 24,500 then we can expect some relief, else there can be some panic selling if the key benchmark index slips below 24,500.
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Marathon Nextgen Realty Ltd, Madhya Bharat Agro products Ltd, Jubilant Pharmova Ltd, Pearl Global Industries Ltd, and GMM Pfaudler Ltd.
Buy Marathon Nextgen Realty Ltd in cash at ₹726.4; Stop Loss at ₹700; Target price at ₹780.
Buy Madhya Bharat Agro products Ltd in cash at ₹457.2; Stop Loss at ₹440; Target price at ₹490.
Buy Jubilant Pharmova Ltd in cash at ₹1,236.3; Stop Loss at ₹1,195; Target price at ₹1,335.
Buy Pearl Global Industries Ltd in cash at ₹1,638.9; Stop Loss at ₹1,580; Target price at ₹1,755.
Buy GMM Pfaudler Ltd in cash at ₹1,356; Stop Loss at ₹1,305; Target price at ₹1,450.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
