Buy or sell: Rajesh Palviya of Axis Securities recommends Federal Bank, NOCIL, M&M stock for today
Stock Market News: The domestic benchmark equity indices, the Nifty 50 and the Sensex, on Thursday's trading session inched higher, reflecting the upbeat mood that pervaded the global market. Nifty 50 concluded with bulls in complete control and a comfortable gain. Again, Nifty PSU Bank and Nifty PSE indexes were the top performers, rising 3% apiece.
NMDC (+5%), NTPC, Bharat Petroleum Corporation Ltd (BPCL), GAIL rose 4%, and Mahindra & Mahindra (M&M) (+7%) were the prominent gainers. Nifty smallcap and Nifty midcap 100 both increased 1%, indicating an outperformance of the broader market. After a brief lull, PSU stocks continued their upward trend.
Also Read: Stock market today: Sensex, Nifty 50 extend gains into third straight session; investors earn nearly ₹3 lakh crore According to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, Oil & Gas witnessed a substantial rise owing to noteworthy quarterly outcomes, enhanced GRM, and anticipated robust development in India's oil consumption in the future. “With the end of Q3 result season, the focus is now shifting to fundamentals and economic macro data. Domestic equities are taking support from better-than-expected inflation which would keep the trend positive.
Nifty 50 is now close to 22k as well as its all-time high, we expect it to surpass these levels and touch new highs," said Khemka. Also Read: World markets today: US stocks edge up after more than expected fall in retail sales On the weekly and monthly time frames, the stock is in a strong uptrend, forming a series of higher tops and bottoms, indicating bullish sentiments. Recently, the stock has recaptured its 200-day SMA (139) and rebounded sharply, indicating that the buying force
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