Buy or sell stocks for today: Domestic equity benchmarks Sensex and Nifty 50 settled higher for the second consecutive session, driven by IT, consumer durables and commodity stocks, amid a largely positive trend in global markets. Optimism over the rise in artificial intelligence (AI) spending in the US drove IT stocks, while worries over earnings moderation and US tariffs capped gains.
In a volatile trade, the 30-share index rose by 115.39 points or 0.15 per cent to settle at 76,520.38. The barometer opened on a negative note, dropping by 202 points to an intraday low of 76,202.12. The index pared losses later and climbed 338.55 points or 0.44 per cent to hit a high of 76,743.54. The broader NSE Nifty rose by 50 points or 0.22 per cent to end at 23,205.35.
Both the benchmarks lost about 0.3 per cent at the open before reversing losses, helped by a 1.8 per cent rise in IT stocks. The IT index has gained four per cent in two sessions since US President Donald Trump announced a massive project and spending plans for AI infrastructure on Tuesday.
The sector earns a significant share of its revenue from the US. Small-caps and mid-caps rose 1.1 per cent and 1.9 per cent, respectively, after losing four per cent each in the last two sessions. The market capitalisation of BSE-listed companies rose by ₹2,75,359.24 crore to ₹4,24,63,686.80 crore.
Vaishali Parekh’s stocks today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said, “Nifty witnessed a slight pullback and managed to close above the 23,200 zone. The broader markets showed some improvement, and further improvement can be anticipated in the coming sessions.”
For Bank Nifty, the Prabhudas Lilladher stock market expert said, “Bank Nifty remained sluggish, hovering near the 48,600 zone and has been moving within a tight range for quite some time. It faces resistance near 49,700 and has crucial support near 48,000 levels.”
Vaishali Parekh recommended three intraday stocks for today: PCBL Chemical Ltd, Coal India, and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC).
Stock market today
For today’s outlook on the Nifty 50, Parekh said, “The index needs to decisively breach above the 23,350 and 23,500 levels to establish conviction and anticipate further rise in the coming days. Volatility shall remain high in the coming sessions. One can watch for select counters during the intraday session.”
On Bank Nifty, she said, “The index needs to move past the important hurdle of 49,700 level to establish conviction and confirm a directional move further ahead.” The support for the day is seen at 23,000 levels, while the resistance is at 23,400 levels. Bank Nifty would have a daily range of 48,200-49,200 levels.
Buy or sell stocks by Vaishali Parekh
1.PCBL Chemical Ltd: Buy PCBL Chemical Ltd at ₹378 with a target price of ₹405 and a stop loss of ₹363.
2.Coal India: Buy Coal India at ₹386 with a target price of ₹400 and a stop loss of ₹375.
3.GNFC: Buy GNFC at ₹562 with a target price of ₹575 and a stop loss of ₹550.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
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