Indices snapped a four-session rally on Thursday dragged by technology and realty stocks. The 30-share BSE Sensex slumped 621.31 points or 1.03% to close the session at 59,601.84. Similarly, the NSE Nifty plunged 179.35 points or 1% to 17,745.90.
Nifty’s realty and IT index fell the most among sectoral indexes, losing 1.5% each, while banking stocks ended a sharp rally to decline 0.6%. In value terms, RIL, HDFC twins and Infosys accounted for over half of the benchmark’s losses. Tech Mahindra was the top laggard, followed by UltraTech Cement, Reliance Industries, HCL Tech, HDFC twins, Kotak Bank and Infosys.
Foreign institutional investors remained net buyers in the capital market on Wednesday, as they purchased shares worth ₹336.83 crore, as per the exchange data.
Analysts recommend these stocks to buy/sell today –
Sumeet Bagadia, Executive Director, Choice Broking
IndusInd Bank: Buy IndusInd Bank, target ₹950-975, stop loss ₹890
Dabur: Buy Dabur, target ₹590-600, stop loss ₹570
Mudit Goel, Senior Research Analyst, SMC Global Securities
Tata Power: Buy Tata Power, target price ₹236, stop loss ₹224
Trent: Buy Trent, target price ₹1,100, stop loss ₹1,070
Avinash Gorakssakar, Head of Research at Profitmart Securities
UPL: Buy UPL at ₹781, target of ₹815, stoploss of ₹765
Bank of Baroda: Buy Bank of Baroda at ₹86.7 with target of ₹93, Stoploss of ₹83.50
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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