Indian Market Closes Week Weaker as Oil Prices Rise
The Indian stock market closed its truncated trading week on a weaker note due to rising global bond yields and elevated crude oil prices. The Sensex declined by 0.65% to end at 74,294.46 while the Nifty slipped 0.22% to settle at 23,346.40.
The broader market indices remained largely flat after a volatile week. Sectoral participation was positive led by Metal, Media, Realty, and Chemical sectors but IT, Consumer Durables, FMCG, and Auto sectors remained weak.
Sumeet Bagadia, Executive Director at Choice Broking recommends three stocks to buy on Monday: Equitas Small Finance Bank, Meghmani Organics, and Filatex India. He suggests buying Equitas Small Finance Bank at ₹74.09 with a target price of ₹81 and stop loss at ₹70.
Meghmani Organics is recommended to be bought at ₹63.14 with a target price of ₹70 and stop loss at ₹59. Filatex India is suggested to be bought at ₹93.83 with a target price of ₹104 and stop loss at ₹89.