Indian stock markets pared losses in the final hour of today’s trading session and managed to end with minor cuts. The BSE Sensex closed at 58,191.29, down 30.81 points or 0.05% while the Nifty50 stabilized 17 points or 0.10% at 17314.65. In the 30-stock Sensex, 13 stocks were trading in the green at closing time while the remaining 17 stocks were in the red. Eighteen stocks rose in the Nifty50 to 50 shares while 32 declined.
In the 30-stock Sensex, 18 ended in the red while 12 were trading in the green at closing time.
Top Sensex winners:
1) Shares of Titan closed at Rs 2,730.50, up 5.27% from Thursday’s closing price.
2) Power Grid shares closed at Rs 209.30, up 1.45% on BSE from Thursday’s closing price.
3) Indusind Bank shares closed at Rs 1213.40, up 1.06% on BSE from Thursday’s closing price.
4) NTPC shares closed at Rs 164.30, up 0.95% on BSE from Thursday’s closing price.
5) Maruti Suzuki shares closed at Rs 8782.95, up 0.93% on BSE from Thursday’s closing price.
Sensex Top Losers:
1) Mahindra & Mahindra shares closed at Rs 1239.25, down 1.37% on BSE from Thursday’s closing price.
2) Shares of Ultratech Cement Company ended at Rs 6,204, down 1.29% from Thursday’s closing price.
3) SBI shares ended at Rs 530.35, down 1.28% from Thursday’s closing price.
4) TCS shares closed at Rs 3064.95, down 1.28% from Thursday’s closing price.
5) Bajaj Finance shares closed at Rs 7342.95, down 0.79% from Thursday’s closing price.
In the 50-stock Nifty50, 27 stocks rose while 23 fell.
Top Nifty50 Winners:
1) Titan shares closed at Rs 2730.20, up 5.30% from Thursday’s closing price.
2) Power Grid shares closed at Rs 209.30, up 1.45% from Thursday’s closing price.
3) Grasim Industries closed at Rs 1702.80, up 1.17% from Thursday’s closing price.
4) NTPC shares closed at Rs 164.80, up 1.17% from Thursday’s closing price.
5) ONGC shares closed at Rs 134, up 1.02% from Thursday’s closing price.
Nifty50 top losers:
1) Shares of Tata Consumer Products ended at Rs 781.20, down 1.65% on the NSE from Thursday’s closing price.
2) BPCL shares closed at Rs 307.50, down 1.49% on the NSE from Thursday’s closing price.
3) Mahindra & Mahindra shares closed at Rs 1240, down 1.34% on the NSE from Thursday’s closing price.
4) Shares of Ultratech Cement Company ended at Rs 6205.55, down 1.30% on the NSE from Thursday’s closing price.
5) SBI shares ended at Rs 531, down 1.17% on the NSE from Thursday’s closing price.
Choice Broking’s Sumeet Bagadi picks two stocks – one each from Nifty50’s top gainers and losers to lay out his stock strategy. Another analyst, Nilesh Jain, also chose to give a two-stock strategy – one for winners and one for losers.
Recommendations from Sumeet Bagadia
Titan: Buy| LTP: Rs 2,730.20 | Objective: Rs 2830 | Stop Loss: Rs 2670 | 4% increase
Bagadia suggested a buy on Titan shares for a price target of Rs 3,830. He said the shares can be bought at current levels. The stock rose more than 5% on Friday and has been on an upward trajectory over the past three trading sessions.
Source: ESN
BPCL which was among the top 5 losers, is forecast today for a further decline to levels around Rs 300, Bagadia said. The stock ended at 307.50 on the NSE and was down Rs 4.65 or 1.49% from Thursday’s closing price.
Recommendations from Nilesh Jain
Titan: Buy at Rs 2700 | Objective: Rs 2900 | Stop Loss: Rs 2580 | Up 6-8%
Jain, Assistant Vice President – Lead Derivative and Technical Research at Centrum Broking recommends a buy if this stock declines.
M&M: Sell | Objective: Rs 1200 | Stop Loss: Rs 2580| Up 6-8%
Jain sees M&M stocks in weak territory. People who have a business view of this stock should book profits. The stock closed at Rs 1,240, down Rs 16.90 or 1.34% from the previous closing price.
(Disclaimer: Opinions/suggestions/advice expressed here in this article are investment experts only. Zee Business suggests its readers consult their investment advisors before making any financial decisions.)