Indian stock market: India’s benchmark equity indices — Sensex and Nifty — declined for the second consecutive session on Friday, October 31. However, both indices still recorded their strongest monthly performance since March, marking a seven-month high.
The Sensex dropped 465.75 points, or 0.55 per cent, to close at 83,938.71, while the Nifty 50 slipped 155.75 points, or 0.60 per cent, to end at 25,722. Weak global cues and profit-booking amid mixed corporate earnings weighed on market sentiment. Over the month, the Sensex advanced 4.6 per cent, and the Nifty 50 added 4.5 per cent.
Broader markets traded lower, with the BSE Midcap index slipping 0.55% and the BSE Smallcap index falling 0.40 per cent.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that Indian stock market is trading range-bound as the Nifty 50 index is gripped in 25,700 to 26,100 range.
“A bullish or a bearish trend can be assumed on the breakage of either side of this range. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option,” said Bagadia.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, October 2. The three stock picks by Bagadia are – Sigma Solve, Atal Realtech, and Shah Alloys.
1] Sigma Solve: Buy at ₹55.45 | Target Price: ₹60 | Stop Loss: ₹53.5
2] Atal Realtech: Buy at ₹25.22 | Target Price: ₹27 | Stop Loss: ₹24.4
3] Sagility: Buy at ₹76 | Target Price: ₹82 | Stop Loss: ₹73.5
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.
