As we step into today’s trading session, the Indian stock market presents a mixed bag influenced by global cues and domestic developments. Here’s a simplified breakdown to help you navigate the market today.
🌍 Global Cues: A Mixed Bag
Global markets exhibited a positive trend yesterday, with major indices like the Dow Jones and FTSE 100 closing higher. However, early indicators suggest a cautious start for Indian markets today, as GIFT Nifty trades about 50 points lower, hinting at a subdued opening .
🇮🇳 Domestic Snapshot: Earnings Season in Focus
Indian markets have been on a seven-day winning streak, with the Nifty 50 closing above 24,300 and the Sensex gaining 521 points yesterday, led by IT and auto stocks . However, the Bank Nifty saw a decline, indicating sector-specific movements.
Today, investors will be keenly watching the Q4 earnings of major companies like Axis Bank, Adani Energy, Nestle, SBI Life, and Tech Mahindra, as 41 companies are set to announce their results .
🔍Sectors to Watch
- Information Technology (IT): The IT sector led yesterday’s rally, with a 4% jump. Companies like LTIMindtree are in focus today, and positive global cues could continue to support this sector.
- Auto: The auto sector added over 2% yesterday. With increasing demand and favorable policies, this sector remains attractive.
- Banking: Despite the overall market rally, the Bank Nifty declined by 0.5%. Investors should watch for movements in this sector, especially with Axis Bank’s earnings announcement today.
- Mid and Small Caps: Midcaps outperformed with over 1% gains, while small caps lagged. Selective stocks in these segments could offer opportunities.
📈 Stocks to Watch
Tata Consumer Products: With a strong brand portfolio, it’s a stock to keep an eye on today.
LTIMindtree: Benefiting from the IT sector’s momentum, this stock is in focus.
NHPC: A key player in the power sector, watch for any movements.
Bajaj Finance: A significant player in the NBFC space, its performance can influence the financial sector.
Affordable Picks Under ₹100 :
- GMR Airports: Buy at ₹87.80, Target ₹93, Stop Loss ₹85. –Vaishali Parekh
- Canara Bank: Buy at ₹99, Target ₹105, Stop Loss ₹95. –Ganesh Dongre
- IFCI: Buy at ₹45–₹46, Targets up to ₹54, Stop Loss ₹43.80. –Mahesh M Ojha
- MMTC: Buy at ₹55–₹56, Targets up to ₹62, Stop Loss ₹53.70. –Mahesh M Ojha
- Suzlon Energy: Buy on dips at ₹58.60, Target ₹65.20, Stop Loss ₹55. –Sugandha Sachdeva
- NFL: Buy at ₹88.50, Target ₹96, Stop Loss ₹84. –Anshul Jain
🧠 Investment Tips
- Diversify: Spread your investments across sectors to mitigate risks.
- Stay Informed: Keep an eye on global cues and domestic earnings announcements.
- Long-Term Perspective: Focus on fundamentally strong companies for long-term gains.
