The Indian stock market is expected to start on a weaker note on Monday (August 31), as indicated by GIFT Nifty. According to reports from ET Now, as of 8:20 am IST, GIFT Nifty traded 0.2 per cent, or 52.5 points, lower at 24,222.50. 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 Pradip Halder, Founder and CEO of PHD Capital Pvt Ltd, have recommended several stocks for potential investment during Monday's trading session. As reported by ET Now, the analysts have provided specific buy targets and stop-loss levels for investors to consider.
According to the analyst recommendations, SAIL has been set as a buy target at ₹210 with a stop loss of ₹194. For GNG Electronics, analysts have provided multiple price targets including ₹678, ₹715 and ₹760 with a stop loss of ₹576. ASK Automotive has been recommended with price targets of ₹649 and ₹688 with a stop loss of ₹598. These recommendations come ahead of the trading session as markets prepare for potential volatility.
In the current trading session, HDFC Bank Ltd surged with a 1.67% gain to ₹732.35, leading the market. Bajaj Auto Ltd advanced 0.76% to ₹12,000, while Coal India Ltd, Oil & Natural Gas Corpn Ltd, Apollo Hospitals Enterprise Ltd, Bharti Airtel Ltd, and Maruti Suzuki India Ltd also posted modest gains. Conversely, Adani Enterprises Ltd retreated, falling 2.89% to ₹3,077. Among other notable performers, Hindalco Industries Ltd, Shriram Finance Ltd, Infosys Ltd, Tata Steel Ltd, Wipro Ltd, and JSW Steel slipped during the session.
On Friday, August 28, the 30-share BSE benchmark Sensex gained 330.92 points, or 0.43 per cent, to close at 77,264.51. During the day, it jumped 424.38 points, or 0.55 per cent, to 77,357.97. The NSE Nifty rose 84.80 points, or 0.35 per cent, to close at 24,175.65. Among the 30 Sensex firms, Tata Consultancy Services, Infosys, Tech Mahindra, HCLTech, Titan and Eternal were the major winners, while ICICI Bank, UltraTech Cement, Asian Paints and ITC were among the laggards. In the previous session, Tata Consultancy Services Ltd surged with a 4.16% gain to close at ₹2,342, while Tech Mahindra Ltd advanced 3.53% to ₹1,640.9.
