Buy or Sell: Dharmesh Shah of ICICI Securities recommends buying SBI and V-Guard Industries today
Stock Market News: The beginning of the new financial year saw new highs for the domestic equities benchmark indices, the Sensex and Nifty 50, driven by metal stocks following positive data from China. An improvement in a crucial US inflation figure also helped the overall sentiment. The BSE Sensex rose by 0.81% to reach an all-time high of 74,254.62, while the blue-chip NSE Nifty 50 index climbed by up to 0.91% to a new record high of 22,529.95.
Bullish sentiment is underlying the market, and it is moving forward. Even though the market has been consolidating, the Nifty's recent 2 trading day spike of 322 points suggests that the upward trend can continue. Dr.
V K Vijayakumar, Chief Investment Strategist, Geojit finance Services, advised investors to keep an eye on largecap stocks in selected pharmaceutical, capital goods, automotive, and finance companies as they are expected to report strong Q4 results. On the last trading day of the fiscal year 2024, the domestic stock benchmark indices, the Sensex and Nifty 50, concluded the day strongly upbeat amid favourable global cues. Sensex increased by over 25% and Nifty 50 by almost 29% during FY24.
The Nifty 50 ended the day at 22,326.90, up 203.25 points or 0.92%, while the 30-share BSE Sensex closed higher by 655.04 points or 0.90% at 73,651.35 level. Also, the small- and mid-cap groups wrapped in significant gains on a broader front. The BSE Midcap index had a 0.62% boost, while Smallcap finished 0.33% higher.
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