India’s stock market is likely to witness a weak start in Friday’s final trading session of the week. Both benchmark indices are expected to open lower than their previous closing levels, with market experts pointing to cues from global markets and trends in the GIFT Nifty.
In Thursday’s session, heavy selling in information technology stocks weighed on the broader market, putting pressure on the benchmarks. The Sensex closed down 0.66 percent, or 558 points, while the Nifty50 slipped 0.57 percent, or 146 points.
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On Friday, GIFT Nifty was trading nearly 142 points lower, signalling a possible gap-down opening. Weakness in Asian markets has further dampened sentiment. Japan’s Nikkei declined 1.69 percent and the Topix fell 0.58 percent. South Korea’s Kospi dropped 0.48 percent, while the Kosdaq slid 1.36 percent. Hong Kong’s Hang Seng index was also trading in the red.
The previous session on Wall Street ended on a negative note, with major US technology stocks recording sharp losses. Taken together, these global cues have heightened concerns of a subdued start for Dalal Street.
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In this situation, let's see which stocks have been recommended to watch.
Tata Power: Market experts have recommended buying this stock in the range of 373 rupees to 381 rupees. Its target price is 413 rupees and stop loss is 358 rupees.
Manappuram Finance: Market experts have recommended buying this stock in the range of 300 rupees to 310 rupees. Its target price is 332 rupees and stop loss is 289 rupees.
Besides these, it has also been recommended to watch stocks of Hindustan Aeronautics, Hindustan Construction Company, GAIL India, AU Small Finance Bank, and Savita Oil Technologies Limited.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
