Buy or Sell: Dharmesh Shah of ICICI Securities recommends buying LIC and ABB India next week
Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50, ended the day higher for the third straight session on Friday amid mixed global cues. On Friday's session, the 30-share BSE Sensex ended higher by 190.75 points or 0.26% at 72,831.94 level while the Nifty 50 closed at 22,096.75 level, up 84.80 points or 0.39%.
Also Read: Stock market today: Nifty 50, Sensex end higher for the third consecutive session; investors earn over ₹2 lakh crore Stocks rebounded last week, RECovering from a previous decline. The Federal Open Market Committee's (FOMC) dovish remarks helped most sectors gain momentum, said Santosh Meena, Head of Research at Swastika Investmart Ltd.
With gains of almost 5%, real estate, auto, and metal companies were the biggest gainers. The information technology (IT) sector, on the other hand, reversed the trend and fell more than 6% when Accenture lowered its forecast.
The broader market provided solace, as indices for small- and mid-cap companies also had notable rallies. The Nifty Midcap index, in particular, made a significant recovery from its 100-day moving average (DMA), explained Meena.
The upcoming week will be a truncated trading week as the domestic equity market will be closed on Monday in celebration of the Holi festival and on Friday on account of Good Friday. Also Read: Stock market holidays in March 2024: BSE, NSE to remain closed on Holi, Good Friday "Exciting news! Mint is now on WhatsApp Channels
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