Indian stock markets are expected to open today's (July 20) trading session on a weak note, following the trend seen in some Asian markets and signals from GIFT Nifty. As of 8:15 am, GIFT Nifty was down 0.4 per cent, trading at 24,309.50. GIFT Nifty acts as an early indicator of market sentiment, and the decline suggests a cautious start for Indian equities. Despite expectations of a weaker opening after domestic markets ended the previous session on a positive note, analysts have identified select stocks that could offer trading opportunities during the July 20 session.
Equity analyst at Emkay Global Financial Services, Kapil Shah has identified two key stocks for accumulation today. For 3M India, the recommendation is to accumulate in the ₹35,440-34,200 range with a stop-loss at ₹32,500. The stock has a positional upside target of ₹42,800. For ZEE Ltd (ZEEL), the recommendation is to accumulate in the ₹96-103 range after breakout confirmation with a stop-loss at ₹90. The stock has upside targets of ₹130 and ₹140. These recommendations come as part of Emkay's strategy to identify opportunities amid the current market weakness.
Asian markets showed mixed trends on July 20, with major indices trading lower. Hong Kong's Hang Seng Index gained over 2 per cent to trade at 25,075.17, while South Korea's KOSPI was trading over 3 per cent lower at 6,598.41. Japan's Nikkei 225 was not trading in today's session as the market remained closed due to a national public holiday, Marine Day, in Japan.
Indian benchmark equity indices ended Friday's session with sharp gains, with the Sensex climbing 964.58 points and the Nifty reaching the 24,330 level. The 30-share BSE Sensex rebounded 964.58 points, or 1.25 per cent, to settle at 78,151.45. During the day, it surged 1,095.68 points, or 1.41 per cent, to reach 78,282.55. The 50-share NSE Nifty gained 261.55 points, or 1.09 per cent, to close at 24,334.30. The positive closing helped end the week on a high note for Indian equities.
