Here’s a quick look at today’s stock market highlights and expert stock picks:
Stock Market Performance: The Indian stock market saw its third straight day of gains on Monday, September 23, with both the BSE Sensex and Nifty 50 reaching record highs. The Nifty 50 index rose by 0.57%, closing at 25,939.05 points, while the BSE Sensex gained 0.45%, finishing at 84,928.61 points. Strong support came from financial services, especially public sector banks.
Stock Picks by CA Rudra Murthy B.V.: Chartered Accountant and Vachana Investments founder Rudra Murthy has recommended three stocks to watch today. He believes FMCG, Pharma, and Banking sectors will continue to perform well, especially public sector banks.
- State Bank of India (SBI)
Buy- Target Price: ₹840
- Stop Loss: ₹790
- Reason: The stock is trading above its ₹800 resistance level, which could lead to short covering and new buying opportunities.
- Gas Authority of India Ltd (GAIL)
Buy- Target Price: ₹240
- Stop Loss: ₹210
- Reason: The stock has strong support at ₹210, making it a good buy at its current price.
- Hindustan Petroleum Corporation Ltd (HPCL)
Buy- Target Price: ₹445
- Stop Loss: ₹395
- Reason: Falling crude oil prices could lead to a strong performance in the next quarter for HPCL.
Keep an eye on these stocks for potential gains!
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