“Indian Stock Market Expected to Follow Global Trends After Extended Weekend”
After a long weekend due to the stock market holiday on Monday, the Indian secondary market is gearing up to follow the global market sentiments. With the US stock market experiencing a bout of profit-booking on Monday, Dalal Street is expected to react accordingly.
In the US, major indices such as the Dow Jones, S&P 500, and Nasdaq ended lower, signaling a cautious approach among investors. However, in the previous session on Friday last week, the Indian stock market showed resilience as the Nifty 50 index, BSE Sensex, and Bank Nifty index all ended on a positive note.
Looking ahead, experts are providing insights on the outlook for the Nifty 50 and Bank Nifty indices. Deepak Jasani, Head of Retail Research at HDFC Securities, believes that the Nifty 50 index could see further upside towards 22,297 and 22,527 levels, with support at 21,860 to 21,875 levels.
Om Mehra, Technical Analyst at SAMCO Securities, highlighted the positive performance of the Bank Nifty index, which has bounced back from key support levels and is poised for an upward trajectory in the near term.
Factors that may influence the Indian stock market today include the derivatives’ monthly expiry and key economic data releases, according to Siddhartha Khemka, Head of Retail Research at Motilal Oswal.
In terms of specific stocks to watch, Shilpa Rout, AVP – Derivatives Research at Prabhudas Lilladher, identified BPCL, Britannia, and Laurus Labs as potential movers in today’s trading session.
Furthermore, stock market experts like Sumeet Bagadia, Ganesh Dongre, and Drumil Vithlani have provided buy recommendations for stocks such as Pidilite Industries, Cummins India, ICICI Bank, Asian Paints, Shriram Properties, and India Cements.
It’s important to note that the views and recommendations mentioned are those of individual analysts and experts, and investors are advised to consult with certified professionals before making any investment decisions. Stay tuned for updates on how the Indian stock market responds to global cues and expert recommendations in today’s trading session.
