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- Following a three-day rise, the Sensex and Nifty 50 concluded with strong gains, buoyed by fresh foreign inflows and positive global cues.
- Special live trading sessions on Saturday showcased significant activity, with all sectoral indices ending in the green.
- “The benchmark indices had a strong run, making up for the previous week’s losses,” noted Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.
This detailed analysis covers the recent performance of Sensex and Nifty 50, providing insights into market trends and expert forecasts.
Market Overview: Sensex and Nifty 50 Surge in Special Trading Session
In a rare weekend market session, both the Sensex and Nifty 50 demonstrated robust gains, driven by a confluence of favorable factors. The BSE Sensex climbed by 88.91 points, reaching 74,005.94, while the NSE Nifty 50 rose by 35.90 points to 22,502.00.
Analysis of Sectoral Performance and Market Dynamics
The positive trend was not limited to the main indices; small and mid-cap indices also outperformed the benchmarks, reflecting a broad-based investor confidence. Market analysts attribute this bullish behavior to a mix of domestic and international factors, including strong foreign fund inflows and optimistic global market signals.
Expert Insights: Future Market Predictions and Strategies
Market experts like Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher, provide a deeper dive into the indices’ performances. Parekh points out that the Nifty 50 faced resistance near the 22,500 mark but expects it to find support around 22,300, with potential to reach up to 22,900 in the upcoming sessions.
Specific Stock Recommendations and Economic Indicators
Parekh recommends buying stocks such as Gujarat State Fertilizers and Chemicals Ltd, Welspun Corp Ltd, and HFCL Ltd, citing specific target prices and stop-loss levels. Additionally, upcoming economic indicators like the Manufacturing and Services PMI, UK CPI Inflation Data, and US Initial Jobless Claims are expected to influence market forecasts.
Conclusion
The recent performance of the Sensex and Nifty 50 highlights the resilience of the Indian markets amidst global economic fluctuations. With expert predictions leaning towards continued growth, investors are advised to monitor key economic indicators and expert stock recommendations to make informed decisions.
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