In a volatile trade, the 30-share BSE Sensex declined 105.79 points, or 0.13 per cent, to settle at 80,004.06. During the day, the index lost 311.18 points, or 0.38 per cent, to 79,798.67. The broader NSE Nifty declined by 27.40 points, or 0.11 per cent, to settle at 24,194.50. The Nifty Midcap 100 index ended the session with a slight gain of 0.02 per cent at 55,914, while the Nifty Smallcap 100 index managed to post a gain of 0.82 per cent at 18,265.
In the current market scenario, domestic brokerage firm SMC Global Securities has released its top four stock picks for this week. The brokerage has selected the following stocks based on technical and fundamental parameters. According to the brokerage, the stocks have robust fundamentals and are well-placed to yield good returns for investors in the next one year.
Let’s take a look at the top four technical and fundamental stocks for this week by brokerage SMC Global Securities:
ICICI Bank: (CMP): ₹1,305.05; Target Price: ₹1,512, Upside: 18 per cent
The bank is showing strong business growth and improved asset quality. It is leveraging digital and technology across businesses to grow the risk-calibrated core operating profit. It is seeing increasing customer adoption and usage of its digital platforms. The brokerage expects the stock to see a price target of Rs. 1,512 in the 8 to 10 months on a three-year average P/BV of 3.34x and FY25 (E) BVPS of Rs. 452.73.
