Indian stock market: Indian indices – Sensex and Nifty 50 – ended on a positive note on Friday, December 5, led by 25-basis-point rate cut by the Reserve Bank of India (RBI) and the central bank’s proposal for a ₹1.45 lakh crore liquidity infusion through bond purchases and dollar-rupee swaps boosted domestic market sentiment.
Building on the previous session’s momentum, the Sensex climbed 447 points (0.52%) to close at 85,712.37, while the Nifty 50 advanced 153 points (0.59%) to finish at 26,186.45. The BSE Midcap index posted a slight gain of 0.21%, whereas the Smallcap index slipped 0.67%.
A rise in large- and mid-cap stocks pushed the total market capitalisation of BSE-listed companies to almost ₹471 lakh crore, up from ₹470 lakh crore in the prior session, adding about ₹1 lakh crore to investors’ wealth in a single day.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market sentiment is positive as the Nifty 50 index has surged near to 26,200 levels.
“ The key benchmark index is facing hurdle at 26,300. On breaking this hurdle on a closing basis, the 50-stock index may soon touch 26,500 and 26,800. So, one should maintain 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 8. The three stock picks by Bagadia are – SBC Exports, Atal Realtech, and IDFC First Bank.
1] SBC Exports: Buy at ₹27.59 | Target Price: ₹29.8 | Stop Loss: ₹26.65
2] Atal Realtech: Buy at ₹24.15 | Target Price: ₹26 | Stop Loss: ₹23.3
3] IDFC First Bank: Buy at ₹80.87 | Target Price: ₹87 | Stop Loss: ₹78
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.
