The Indian stock market is expected to start on a stronger note on Thursday (August 20), taking cues from the slight uptick in GIFT Nifty. As of 8:20 am IST, GIFT Nifty traded 0.14 per cent higher, or up 35 points, at 24,233.50. GIFT Nifty serves as a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower or flat based on global market cues.
SEBI-registered research analyst Kunal Bothra and Kunal V Parar, Vice President of Technical Research at Choice Equity Broking Private Limited, have recommended several stocks for potential gains during Thursday's session. According to reports from ET Now, the analysts have provided specific target prices and stop-loss levels for these recommendations.
Coforge has been recommended with a target price of ₹1,870 and a stop-loss at ₹1,783. IEX has a target price of ₹125–127 with a stop-loss at ₹122. Jubilant Food is suggested with a target range of ₹478–492 and a stop-loss at ₹511. As reported by ET Now, these recommendations come ahead of the trading session and are based on technical analysis and market conditions.
Asian markets showed mixed but generally positive performance on Thursday. Japan's Nikkei 225 traded over 1 per cent higher at 66,036, while South Korea's KOSPI jumped over 6 per cent to 6,857.37. Hong Kong's Hang Seng traded 0.7 per cent higher at 25,647.50, and China's Shanghai Composite ticked higher to 3,899.97. According to ET Now, these positive Asian market cues are contributing to the optimistic opening expectations for Indian markets.
On Wednesday, August 19, the Indian stock market faced pressure with the 30-share BSE benchmark Sensex losing 325.78 points, or 0.42 per cent, to close at 76,909.68. The NSE Nifty fell 76.60 points, or 0.32 per cent, to close at 24,078.30. The Nifty Bank index closed 22.65 points, or 0.04 per cent, lower at 57,239.75. As reported by ET Now, the previous session's decline was attributed to concerns over a prolonged disruption to energy supplies due to the expiry of the temporary 60-day US-Iran ceasefire without meaningful diplomatic breakthrough.
