Market Bounces Back, Nifty Near 21850
Today, indian indices bounces back from the weakness caused post the US inflation data. Bank Nifty outshines and reaches 46000 level and Nifty aroun 21850
Stock Market Bounces, Stocks to Watch
Today, we have seen a very volatile session in the indian stock market. Indices went into Red and then bounced back and closed in Green.
L&T, M&M, Nestle, ITC, HUL were among the lead gainers. On the downside, Tech Mahindra, HCLTech were among the top losers.
During the closing, The BSE Sensex index closed 268 points higher at 71,883. On the other hand, the NSE Nifty50 was closed at 21,840, up 97 points. PSU Bank and Oil & Gas indices bounced 3 per cent each, while other sectors rose 1-1.5% each. On the flip side, IT and Pharma stocks were down 1 per cent each.
Meanwhile, Anand Mahindra tweeted on how to invest in stock market
A Polar bear teaches risk mitigation better than a B-School.
When facing ‘thin ice’, spread out with all ‘body’ parts touching the ground & propel yourself forward with ‘weight’ evenly distributed.
The right way to invest in stock markets?
pic.twitter.com/8rMxlVZjaa — anand mahindra (@anandmahindra) February 13, 2024
Outlook for Tomorrow
Looking at the current open interest data, it seems like that market is going to rally towards 22000 and then it may take a breather before moving forward.
Further, PSU stocks recovered to a great extent today and there is a possibility that recovery will keep going for tomorrow as well.
Stocks To Watch For: Reliance Industries, SBI, MAZGAON DOCK
*any opinion provided here is for education purpose only. Pressvani do not have any recommendation to buy any stock. Investment in stock market is subject to risks, please speak to your advisor before investing.
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