Indian stock market: The Indian stock market finished with solid gains, driven by select heavyweight stocks such as ICICI Bank, Bajaj Finance, and Reliance Industries, amid broadly positive global sentiment, on Friday, September 12.
The Sensex advanced 356 points, or 0.44 per cent, to close at 81,904.70, while the Nifty 50 rose 109 points, or 0.43 per cent, to settle at 25,114. The mid- and small-cap indices also ended higher, though they lagged behind the benchmarks, with the BSE Midcap up 0.09 per cent and the Smallcap gaining 0.27 per cent.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market bias has gained strength as the Nifty 50 index gained further after closing above 25,000 levels.
“The index is facing a hurdle at 25,300. The first few hours of the Monday session would be crucial. If the 50-stock index breaks above this resistance on a closing basis, we can expect the key index to touch 25,800 levels. So, one should look at those stocks that look strong on the technical chart,” said Bagadia.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, September 14. The three stock picks by Bagadia are – Shriram Properties, Snowman Logistics and MSP Steel & Power.
1] Shriram Properties: Buy at ₹92.99 | Target Price: ₹100 | Stop Loss: ₹89.8
2] Snowman Logistics: Buy at ₹58.88 | Target Price: ₹63.5 | Stop Loss: ₹57
3] MSP Steel & Power: Buy at ₹37.25 | Target Price: ₹40 | Stop Loss: ₹35.8
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.
