Indian Stock Market Continues to Rise for Fourth Consecutive Day
The Indian stock market saw a positive trend for the fourth day in a row, following strong global cues. The Nifty 50 index gained 34 points, closing at the 22,402 level, while the BSE Sensex surged 114 points to end at 73,852. The Bank Nifty index also saw an increase of 218 points, closing at 48,189.
Cash market volumes on the NSE were lower compared to the previous day, totaling ₹1.03 lakh crore. Despite this, the broad market indices outperformed the Nifty 50 index, with an advance-decline ratio of 1.63:1.
Looking ahead to Thursday’s trading session, experts have provided insights on the market outlook. Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas, noted that the Nifty 50 index is likely to see a brief consolidation before targeting levels of 22,560. Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, highlighted the Bank Nifty’s sideways trading session and suggested viewing pullbacks towards the support zone as buying opportunities.
In addition, triggers that may impact the Indian stock market were discussed in a report by Motilal Oswal Private Wealth. The report mentioned the vibrant participation of domestic retail savers in India’s capital markets, expectations of political continuity, and the focus sectors for the future.
Experts also provided stock recommendations for the day. Sumeet Bagadia, Shiju Koothupalakkal, and Mitesh Karwa recommended buying stocks like Glenmark, Godrej Consumer Products, IRCON, Alembic, Hero MotoCorp, Cosmo First, and Bectors Food, with specific target and stop-loss levels.
Investors are advised to consult with certified experts before making any investment decisions.
