- Despite strong global market sentiments, the Indian stock market remained sideways throughout the Wednesday session.
- The Nifty 50 index finished flat at 22,302, the BSE Sensex ended 45 points lower at 73,466, whereas the Bank Nifty index corrected 264 points and closed at the 48,021 mark.
- Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, recommended three buy or sell stock ideas for today — Tata Communications, Birlasoft, and LTIMindtree.
Investors are weighing their options in the Indian stock market, as the Nifty 50 index remains flat and the BSE Sensex dips slightly. Expert Vaishali Parekh shares her top stock picks for the day.
Indian Stock Market Performance
The Indian stock market showed a mixed performance in the Wednesday session, despite positive global market sentiments. The Nifty 50 index ended the day flat at 22,302, while the BSE Sensex closed 45 points lower at 73,466. The Bank Nifty index corrected by 264 points, closing at the 48,021 mark. The India VIX Index, a measure of market volatility, reached a new 52-week high of 18.32 before settling at 17.08. However, the BSE small-cap and mid-cap indices showed positive movements, finishing 0.50 percent and 0.78 percent higher respectively.
Expert Stock Recommendations
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, shared her stock recommendations for the day. She believes that the market sentiment may remain cautious until the Nifty 50 index crosses the 22,400 mark. She also warned that a breach below the current support of 22,000 could significantly dent market sentiment. Parekh recommended Tata Communications, Birlasoft, and LTIMindtree as stocks to buy today. She advised buying Tata Communications at ₹1756 with a target of ₹1850 and a stop loss of ₹1700; Birlasoft at ₹616 with a target of ₹670 and a stop loss of ₹595; and LTIMindtree at ₹4713 with a target of ₹4950 and a stop loss of ₹4600.
Conclusion
While the Indian stock market showed a mixed performance, expert Vaishali Parekh’s stock recommendations could provide investors with potential opportunities. However, investors are advised to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
